Prossimo Advisors LLC Grows Position in McDonald’s Co. (NYSE:MCD)

Prossimo Advisors LLC increased its position in shares of McDonald’s Co. (NYSE:MCD) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,594 shares of the fast-food giant’s stock after purchasing an additional 39 shares during the period. Prossimo Advisors LLC’s holdings in McDonald’s were worth $1,094,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Kings Path Partners LLC purchased a new stake in McDonald’s in the 2nd quarter valued at about $38,000. Keener Financial Planning LLC boosted its position in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new stake in McDonald’s in the 2nd quarter valued at about $59,000. Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at about $65,000. Finally, Macroview Investment Management LLC raised its holdings in shares of McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after purchasing an additional 208 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley boosted their target price on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Barclays upped their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.46.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock worth $10,256,818 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Price Performance

McDonald’s stock opened at $295.21 on Friday. The company has a market cap of $211.77 billion, a PE ratio of 25.92, a P/E/G ratio of 3.88 and a beta of 0.74. The company has a fifty day moving average price of $298.36 and a two-hundred day moving average price of $275.86. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $3.19 earnings per share. Equities research analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost 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 2.40%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 58.65%.

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.