Prudential PLC Has $19.48 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Prudential PLC raised its holdings in McDonald’s Co. (NYSE:MCD) by 18.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,453 shares of the fast-food giant’s stock after buying an additional 12,078 shares during the period. Prudential PLC’s holdings in McDonald’s were worth $19,483,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of McDonald’s during the 1st quarter worth about $28,000. Clear Investment Research LLC acquired a new stake in McDonald’s during the 4th quarter worth approximately $38,000. Kings Path Partners LLC bought a new stake in McDonald’s in the 2nd quarter valued at $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in McDonald’s in the 4th quarter valued at $39,000. Finally, Accent Capital Management LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $44,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $289.93 on Monday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39. The firm has a market cap of $207.98 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 3.87 and a beta of 0.72. The firm’s fifty day moving average is $268.64 and its 200-day moving average is $270.60.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 EPS. Sell-side analysts forecast that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock valued at $1,689,073 over the last quarter. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of a number of recent research reports. Evercore ISI raised their price target on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Truist Financial cut their price target on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Barclays cut their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Stifel Nicolaus cut their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.67.

McDonald’s Profile

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.