Prospera Financial Services Inc reduced its holdings in Mcdonald’s Corp (NYSE:MCD) by 27.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,183 shares of the fast-food giant’s stock after selling 3,143 shares during the period. Prospera Financial Services Inc’s holdings in Mcdonald’s were worth $1,456,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in Mcdonald’s in the second quarter valued at approximately $25,000. Litman Gregory Asset Management LLC acquired a new stake in Mcdonald’s in the second quarter valued at approximately $27,000. Atlas Capital Advisors LLC grew its holdings in Mcdonald’s by 330.3% in the second quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock valued at $29,000 after purchasing an additional 109 shares during the period. Westside Investment Management Inc. acquired a new stake in Mcdonald’s in the second quarter valued at approximately $34,000. Finally, Next Capital Management LLC acquired a new stake in Mcdonald’s in the second quarter valued at approximately $41,000. 67.61% of the stock is currently owned by institutional investors.
In related news, EVP Silvia Lagnado sold 26,649 shares of Mcdonald’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the transaction, the executive vice president now owns 40,129 shares in the company, valued at $8,530,622.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Catherine A. Hoovel sold 457 shares of Mcdonald’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.15, for a total value of $99,694.55. Following the transaction, the vice president now owns 1,348 shares in the company, valued at approximately $294,066.20. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings data on Friday, July 26th. The fast-food giant reported $2.05 EPS for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.01). Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter in the previous year, the business posted $1.99 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts predict that Mcdonald’s Corp will post 8.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $1.16 per share. The ex-dividend date is Friday, August 30th. This represents a $4.64 dividend on an annualized basis and a yield of 2.24%. Mcdonald’s’s payout ratio is 58.73%.
A number of analysts have recently issued reports on MCD shares. Goldman Sachs Group started coverage on Mcdonald’s in a research note on Monday, July 29th. They issued a “buy” rating and a $250.00 price target on the stock. Piper Jaffray Companies lifted their price target on Mcdonald’s from $209.00 to $226.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Evercore ISI started coverage on Mcdonald’s in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $225.00 price target on the stock. Stephens lifted their price target on Mcdonald’s from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, TheStreet raised Mcdonald’s from a “c+” rating to a “b-” rating in a research note on Monday, August 26th. Eight analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Mcdonald’s presently has a consensus rating of “Buy” and a consensus target price of $220.55.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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