Prentice Wealth Management LLC increased its position in shares of McDonald’s Co. (NYSE:MCD) by 48.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,050 shares of the fast-food giant’s stock after purchasing an additional 345 shares during the quarter. Prentice Wealth Management LLC’s holdings in McDonald’s were worth $243,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in MCD. Ameriprise Financial Inc. increased its position in shares of McDonald’s by 40.3% during the 1st quarter. Ameriprise Financial Inc. now owns 3,888,377 shares of the fast-food giant’s stock worth $871,882,000 after purchasing an additional 1,116,967 shares in the last quarter. Suvretta Capital Management LLC acquired a new stake in McDonald’s in the 1st quarter valued at about $213,957,000. BlackRock Inc. increased its position in McDonald’s by 1.4% in the 1st quarter. BlackRock Inc. now owns 51,462,592 shares of the fast-food giant’s stock valued at $11,534,826,000 after acquiring an additional 714,829 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in McDonald’s by 22.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 3,443,349 shares of the fast-food giant’s stock valued at $771,792,000 after acquiring an additional 624,534 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in McDonald’s by 9.6% in the 1st quarter. Nuveen Asset Management LLC now owns 6,472,300 shares of the fast-food giant’s stock valued at $1,450,702,000 after acquiring an additional 566,813 shares in the last quarter. Institutional investors and hedge funds own 66.34% of the company’s stock.
Several equities research analysts have weighed in on the stock. TheStreet upgraded shares of McDonald’s from a “c+” rating to a “b-” rating in a research report on Monday, August 9th. Barclays raised their price objective on shares of McDonald’s from $270.00 to $283.00 and gave the company an “overweight” rating in a research report on Tuesday, June 1st. Guggenheim started coverage on shares of McDonald’s in a research report on Monday, July 26th. They issued a “buy” rating and a $270.00 price objective for the company. Truist lifted their price target on shares of McDonald’s from $255.00 to $266.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Finally, UBS Group lifted their price target on shares of McDonald’s from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Buy” and an average price target of $256.72.
MCD traded up $2.75 during trading on Tuesday, reaching $241.84. The company had a trading volume of 14,398 shares, compared to its average volume of 2,743,575. McDonald’s Co. has a 12 month low of $202.73 and a 12 month high of $247.05. The business’s fifty day moving average price is $238.51 and its 200 day moving average price is $233.01. The company has a market cap of $180.61 billion, a P/E ratio of 26.33, a PEG ratio of 2.36 and a beta of 0.63.
McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, July 27th. The fast-food giant reported $2.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.26. McDonald’s had a net margin of 31.72% and a negative return on equity of 83.98%. The firm had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, research analysts expect that McDonald’s Co. will post 9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were issued a $1.29 dividend. The ex-dividend date was Tuesday, August 31st. This represents a $5.16 dividend on an annualized basis and a dividend yield of 2.13%. McDonald’s’s dividend payout ratio (DPR) is presently 85.29%.
McDonald’s Company Profile
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 in the United States. The International Operated Markets segment comprises operations and franchising of restaurant in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.
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