Prospera Financial Services Inc Acquires 5,806 Shares of McDonald’s Co. (NYSE:MCD)

Prospera Financial Services Inc boosted its position in shares of McDonald’s Co. (NYSE:MCD) by 11.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 58,698 shares of the fast-food giant’s stock after purchasing an additional 5,806 shares during the quarter. Prospera Financial Services Inc’s holdings in McDonald’s were worth $17,884,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hara Capital LLC bought a new position in McDonald’s in the 3rd quarter valued at approximately $44,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the second quarter valued at $38,000. Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s during the third quarter valued at $58,000. Opal Wealth Advisors LLC bought a new stake in McDonald’s in the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth about $65,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.5 %

Shares of NYSE MCD opened at $291.10 on Tuesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm’s 50-day moving average price is $300.06 and its 200-day moving average price is $277.60. The stock has a market capitalization of $208.61 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.19 earnings per share. On average, equities analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Ratings Changes

MCD has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial cut their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Stifel Nicolaus reduced their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Finally, Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average target price of $319.46.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 48.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,596 shares of company stock worth $10,698,289. Insiders own 0.23% of the company’s stock.

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.