Prospect Financial Services LLC Sells 360 Shares of McDonald’s Corporation $MCD

Prospect Financial Services LLC lowered its stake in McDonald’s Corporation (NYSE:MCD) by 28.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 909 shares of the fast-food giant’s stock after selling 360 shares during the quarter. Prospect Financial Services LLC’s holdings in McDonald’s were worth $266,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Nova Wealth Management Inc. purchased a new position in McDonald’s during the 1st quarter valued at approximately $26,000. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s during the first quarter valued at approximately $26,000. Decker Retirement Planning Inc. grew its stake in shares of McDonald’s by 142.9% during the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s in the second quarter worth approximately $25,000. Finally, GFG Capital LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $307.11 on Friday. The stock has a market cap of $218.71 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The stock has a 50-day moving average of $303.52 and a two-hundred day moving average of $304.78. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.23 EPS. As a group, sell-side analysts predict that McDonald’s Corporation will post 12.25 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 15th. Investors of record on Monday, December 1st will be paid a $1.86 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 63.48%.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the sale, the executive vice president owned 4,606 shares in the company, valued at approximately $1,383,734.52. This represents a 74.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 15,134 shares of company stock valued at $4,570,716. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup cut their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Guggenheim lowered their target price on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Robert W. Baird raised their price target on shares of McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Truist Financial decreased their price objective on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $323.91.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.