Prostatis Group LLC Has $776,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

Posted by Defense World Staff on Jun 18th, 2023

Prostatis Group LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD – Get Rating) by 96.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,943 shares of the fast-food giant’s stock after selling 74,104 shares during the period. Prostatis Group LLC’s holdings in McDonald’s were worth $776,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MCD. Cerro Pacific Wealth Advisors LLC grew its holdings in shares of McDonald’s by 4.2% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,948 shares of the fast-food giant’s stock valued at $1,041,000 after buying an additional 160 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of McDonald’s by 19.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 10,641 shares of the fast-food giant’s stock valued at $2,804,000 after buying an additional 1,766 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of McDonald’s by 77.1% during the fourth quarter. National Bank of Canada FI now owns 210,130 shares of the fast-food giant’s stock valued at $55,351,000 after buying an additional 91,484 shares in the last quarter. Crescent Grove Advisors LLC grew its holdings in shares of McDonald’s by 21.6% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,252 shares of the fast-food giant’s stock valued at $330,000 after buying an additional 222 shares in the last quarter. Finally, Bullseye Investment Management LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at $210,000. 66.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on McDonald’s from $310.00 to $315.00 in a report on Wednesday, April 26th. JPMorgan Chase & Co. boosted their target price on McDonald’s from $262.00 to $284.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Tigress Financial boosted their target price on McDonald’s from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, March 8th. TD Cowen boosted their target price on McDonald’s from $293.00 to $299.00 and gave the company an “outperform” rating in a research note on Friday, March 24th. Finally, Royal Bank of Canada boosted their target price on McDonald’s from $300.00 to $316.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Six investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.77.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $285.07, for a total value of $570,140.00. Following the completion of the transaction, the chief marketing officer now owns 1,929 shares of the company’s stock, valued at approximately $549,900.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CMO Edith Morgan Flatley sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $285.07, for a total value of $570,140.00. Following the completion of the transaction, the chief marketing officer now directly owns 1,929 shares of the company’s stock, valued at approximately $549,900.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jo Sempels sold 6,425 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $295.10, for a total value of $1,896,017.50. Following the completion of the transaction, the insider now directly owns 730 shares of the company’s stock, valued at $215,423. The disclosure for this sale can be found here. Insiders sold a total of 12,667 shares of company stock valued at $3,725,307 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

McDonald’s Stock Up 0.4 %

McDonald’s stock opened at $293.70 on Friday. The business has a 50 day moving average price of $290.68 and a two-hundred day moving average price of $276.71. The stock has a market cap of $214.43 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 3.09 and a beta of 0.64. McDonald’s Co. has a 12 month low of $230.58 and a 12 month high of $298.86.

McDonald’s (NYSE:MCD – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The fast-food giant reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.58 billion. McDonald’s had a negative return on equity of 124.87% and a net margin of 29.36%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.28 EPS. On average, analysts expect that McDonald’s Co. will post 11.05 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Monday, June 5th will be issued a $1.52 dividend. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $6.08 annualized dividend and a yield of 2.07%. McDonald’s’s dividend payout ratio (DPR) is 65.24%.

McDonald’s Company Profile

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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.