PGIM Custom Harvest LLC Buys 166 Shares of McDonald’s Corporation $MCD

PGIM Custom Harvest LLC boosted its stake in McDonald’s Corporation (NYSE:MCD) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,484 shares of the fast-food giant’s stock after purchasing an additional 166 shares during the period. PGIM Custom Harvest LLC’s holdings in McDonald’s were worth $464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Candriam S.C.A. increased its position in McDonald’s by 10.2% in the 1st quarter. Candriam S.C.A. now owns 93,691 shares of the fast-food giant’s stock valued at $29,266,000 after acquiring an additional 8,656 shares during the period. Sandhill Capital Partners LLC increased its position in McDonald’s by 1.0% in the 1st quarter. Sandhill Capital Partners LLC now owns 17,232 shares of the fast-food giant’s stock valued at $5,383,000 after acquiring an additional 178 shares during the period. TFB Advisors LLC increased its position in McDonald’s by 2.3% in the 1st quarter. TFB Advisors LLC now owns 1,965 shares of the fast-food giant’s stock valued at $614,000 after acquiring an additional 45 shares during the period. Banco BTG Pactual S.A. acquired a new position in McDonald’s in the 1st quarter valued at approximately $312,000. Finally, GM Advisory Group LLC increased its position in McDonald’s by 5.8% in the 1st quarter. GM Advisory Group LLC now owns 2,524 shares of the fast-food giant’s stock valued at $788,000 after acquiring an additional 138 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,280 shares of company stock valued at $2,525,178 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MCD. Loop Capital cut shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the company from $346.00 to $315.00 in a research report on Friday, June 6th. Truist Financial increased their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $350.00 price objective (up from $345.00) on shares of McDonald’s in a research report on Thursday, August 7th. Guggenheim reiterated a “neutral” rating on shares of McDonald’s in a research report on Friday, August 8th. Finally, Northcoast Research cut shares of McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $326.87.

McDonald’s Stock Up 0.7%

Shares of NYSE MCD opened at $313.13 on Thursday. The firm has a market cap of $223.45 billion, a PE ratio of 26.83, a P/E/G ratio of 3.17 and a beta of 0.52. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The company’s fifty day simple moving average is $298.57 and its 200 day simple moving average is $305.40.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 earnings per share. On average, equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s dividend payout ratio is currently 60.67%.

McDonald’s 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 on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.