Prio Wealth Limited Partnership Cuts Stock Position in McDonald’s Co. (NYSE:MCD)

Prio Wealth Limited Partnership trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 20.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,070 shares of the fast-food giant’s stock after selling 9,017 shares during the period. Prio Wealth Limited Partnership’s holdings in McDonald’s were worth $9,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MCD. Heritage Wealth Management Inc. acquired a new position in shares of McDonald’s during the second quarter worth about $2,762,000. Lazari Capital Management Inc. lifted its position in McDonald’s by 20.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 1,928 shares of the fast-food giant’s stock worth $491,000 after acquiring an additional 330 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in McDonald’s during the 2nd quarter worth approximately $52,675,000. Creekside Partners purchased a new position in McDonald’s in the 2nd quarter worth approximately $658,000. Finally, Brown Financial Advisors acquired a new stake in McDonald’s in the second quarter valued at approximately $1,612,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now owns 43,256 shares in the company, valued at approximately $13,193,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,751 shares of company stock worth $9,493,973. 0.23% of the stock is owned by insiders.

McDonald’s Trading Down 0.5 %

NYSE MCD opened at $302.98 on Wednesday. The company has a 50-day moving average price of $283.58 and a two-hundred day moving average price of $271.26. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $306.96. The stock has a market cap of $218.35 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company earned $3.17 earnings per share. As a group, equities research analysts expect that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.34%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MCD shares. Stifel Nicolaus reduced their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Jefferies Financial Group upped their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. TD Cowen reaffirmed a “hold” rating and set a $280.00 target price on shares of McDonald’s in a research report on Monday, September 23rd. Barclays reduced their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $308.22.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.