C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $675,000 Holdings in McDonald’s Co. (NYSE:MCD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.0% in the third quarter, Holdings Channel.com reports. The firm owned 2,216 shares of the fast-food giant’s stock after selling 93 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in McDonald’s were worth $675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concentric Wealth Management LLC increased its holdings in McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after acquiring an additional 35 shares during the last quarter. Founders Financial Alliance LLC increased its stake in shares of McDonald’s by 0.7% in the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after purchasing an additional 36 shares in the last quarter. 9258 Wealth Management LLC raised its position in shares of McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares during the period. Cohen Investment Advisors LLC lifted its stake in shares of McDonald’s by 0.4% during the 3rd quarter. Cohen Investment Advisors LLC now owns 10,049 shares of the fast-food giant’s stock valued at $3,060,000 after buying an additional 37 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in McDonald’s by 1.3% in the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after buying an additional 38 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,751 shares of company stock valued at $9,493,973 over the last quarter. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of analyst reports. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays cut their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Citigroup upped their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. KeyCorp raised their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.50.

McDonald’s Stock Up 0.6 %

Shares of MCD opened at $303.84 on Thursday. The stock has a market capitalization of $218.97 billion, a P/E ratio of 25.79, a PEG ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $306.96. The firm has a fifty day simple moving average of $288.17 and a two-hundred day simple moving average of $271.98.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.17 earnings per share. Sell-side analysts expect that McDonald’s Co. will post 11.69 EPS 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 dividend yield of 2.33%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

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.