McDonald’s Co. (NYSE:MCD) Shares Acquired by Prentice Wealth Management LLC

Prentice Wealth Management LLC increased its position in McDonald’s Co. (NYSE:MCD) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,649 shares of the fast-food giant’s stock after buying an additional 81 shares during the period. Prentice Wealth Management LLC’s holdings in McDonald’s were worth $492,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC raised its position in shares of McDonald’s by 106,340.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock valued at $5,069,234,000 after buying an additional 19,217,818 shares during the last quarter. Geode Capital Management LLC raised its position in shares of McDonald’s by 1.5% in the first quarter. Geode Capital Management LLC now owns 13,909,126 shares of the fast-food giant’s stock valued at $3,881,441,000 after buying an additional 206,651 shares during the last quarter. Norges Bank acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $2,341,360,000. Price T Rowe Associates Inc. MD raised its position in shares of McDonald’s by 9.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,651,215 shares of the fast-food giant’s stock valued at $2,279,854,000 after buying an additional 782,066 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of McDonald’s by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,229,506 shares of the fast-food giant’s stock valued at $1,360,569,000 after buying an additional 45,702 shares during the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $284.84 on Friday. The stock has a market capitalization of $207.58 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. McDonald’s Co. has a 1-year low of $230.58 and a 1-year high of $299.35. The company’s fifty day moving average is $287.75 and its two-hundred day moving average is $285.82.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, July 27th. The fast-food giant reported $3.17 EPS for the quarter, topping the consensus estimate of $2.77 by $0.40. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.30 billion. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 earnings per share. Sell-side analysts expect that McDonald’s Co. will post 11.49 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be given a $1.52 dividend. The ex-dividend date is Thursday, August 31st. This represents a $6.08 dividend on an annualized basis and a yield of 2.13%. McDonald’s’s dividend payout ratio is presently 55.93%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $297.87, for a total transaction of $1,336,542.69. Following the completion of the transaction, the insider now owns 11,412 shares in the company, valued at approximately $3,399,292.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, EVP Heidi B. Capozzi sold 688 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $282.54, for a total transaction of $194,387.52. Following the completion of the sale, the executive vice president now directly owns 20,019 shares of the company’s stock, valued at $5,656,168.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $297.87, for a total transaction of $1,336,542.69. Following the sale, the insider now directly owns 11,412 shares of the company’s stock, valued at $3,399,292.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,149 shares of company stock worth $5,257,201. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MCD. Royal Bank of Canada boosted their target price on shares of McDonald’s from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Morgan Stanley boosted their target price on shares of McDonald’s from $315.00 to $320.00 and gave the company an “overweight” rating in a report on Monday, July 17th. KeyCorp boosted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, July 21st. Piper Sandler began coverage on shares of McDonald’s in a report on Wednesday, June 14th. They issued a “neutral” rating and a $308.00 target price for the company. Finally, Loop Capital boosted their target price on shares of McDonald’s from $346.00 to $383.00 in a report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $323.17.

McDonald’s Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.