Prio Wealth Limited Partnership Has $9.19 Million Holdings in McDonald’s Co. (NYSE:MCD)

Prio Wealth Limited Partnership lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 20.0% during the 2nd quarter, HoldingsChannel reports. The fund 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 SEC filing.

Other large investors also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s during the first quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at $38,000. Accent Capital Management LLC purchased a new position in shares of McDonald’s during the 4th quarter valued at $44,000. Transcendent Capital Group LLC acquired a new position in shares of McDonald’s in the fourth quarter worth $45,000. Finally, Keener Financial Planning LLC raised its holdings in shares of McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on MCD shares. Bank of America lowered their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Guggenheim raised their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Stifel Nicolaus cut their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Finally, Barclays decreased their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $308.22.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s 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 completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. Insiders sold 31,751 shares of company stock worth $9,493,973 in the last quarter. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 0.5 %

NYSE:MCD opened at $302.98 on Wednesday. The firm has a market cap of $218.35 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $306.96. The company’s 50-day moving average price is $283.58 and its two-hundred day moving average price is $271.26.

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

McDonald’s Increases Dividend

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

About McDonald’s

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.