C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Raises Stake in McDonald’s Co. (NYSE:MCD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of McDonald’s Co. (NYSE:MCD) by 93.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,688 shares of the fast-food giant’s stock after purchasing an additional 1,778 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in McDonald’s were worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s during the 1st quarter worth $28,000. Signature Resources Capital Management LLC acquired a new position in McDonald’s in the 4th quarter valued at about $31,000. Spartan Planning & Wealth Management acquired a new position in McDonald’s in the 3rd quarter valued at about $33,000. Clear Investment Research LLC acquired a new position in McDonald’s in the 4th quarter valued at about $38,000. Finally, Keener Financial Planning LLC acquired a new position in McDonald’s in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the transaction, the insider now owns 15,878 shares in the company, valued at $4,209,734.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,593 shares of company stock valued at $1,472,518. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCD. Morgan Stanley dropped their price objective on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Bank of America dropped their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. TD Cowen reaffirmed a “buy” rating and set a $305.00 price objective on shares of McDonald’s in a research note on Thursday, June 13th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $312.82.

McDonald’s Stock Performance

Shares of MCD stock traded up $4.38 during mid-day trading on Wednesday, reaching $250.20. 3,015,446 shares of the company were exchanged, compared to its average volume of 3,428,288. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39. The company has a market capitalization of $180.31 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.79 and a beta of 0.71. The business’s 50 day simple moving average is $259.67 and its 200 day simple moving average is $277.05.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the business posted $2.63 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, analysts forecast that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, June 3rd. McDonald’s’s payout ratio is currently 56.71%.

McDonald’s 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.