Prospera Private Wealth LLC Purchases New Shares in McDonald's Co. (NYSE:MCD)

Prospera Private Wealth LLC purchased a new stake in McDonald's Co. (NYSE:MCD - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,230 shares of the fast-food giant's stock, valued at approximately $1,593,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of McDonald's in the 2nd quarter valued at $6,612,000. Kennebec Savings Bank acquired a new position in McDonald's during the 3rd quarter worth approximately $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in McDonald's by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant's stock valued at $35,194,000 after purchasing an additional 51,210 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of McDonald's by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant's stock valued at $14,978,000 after acquiring an additional 2,997 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its position in McDonald's by 17.1% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant's stock worth $15,018,000 after acquiring an additional 7,200 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MCD shares. Citigroup raised their price objective on shares of McDonald's from $301.00 to $317.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price target on McDonald's from $296.00 to $340.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Baird R W cut McDonald's from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Evercore ISI lifted their target price on shares of McDonald's from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird cut shares of McDonald's from an "outperform" rating to a "neutral" rating and cut their price target for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald's currently has a consensus rating of "Moderate Buy" and a consensus target price of $319.46.

Insider Buying and Selling

In other news, EVP Marion K. Gross sold 1,498 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,596 shares of company stock worth $10,698,289. Corporate insiders own 0.23% of the company's stock.

McDonald's Stock Down 0.2 %

NYSE:MCD traded down $0.56 during mid-day trading on Wednesday, hitting $290.17. 943,666 shares of the stock traded hands, compared to its average volume of 3,490,067. The business's 50-day moving average price is $300.04 and its 200 day moving average price is $277.75. The company has a market cap of $207.94 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

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

McDonald's Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This is an increase from McDonald's's previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Monday, December 2nd. McDonald's's payout ratio is currently 62.16%.

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.