Park National Corp OH Purchases 8,240 Shares of McDonald's Corporation $MCD

Key Points

• Park National Corp OH increased its holdings in McDonald's Corporation by 6.6%, acquiring an additional 8,240 shares during the 2nd quarter, bringing their total to 133,134 shares.
• A recent insider sale saw EVP Desiree Ralls-Morrison dispose of 2,487 shares at $310.00 each, reflecting a significant decrease in ownership.
• Wall Street analysts maintain a consensus rating of "Hold" for McDonald's stock, with a target price averaging $325.14.

Park National Corp OH increased its position in McDonald's Corporation (NYSE:MCD - Free Report) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,134 shares of the fast-food giant's stock after acquiring an additional 8,240 shares during the quarter. McDonald's comprises about 1.3% of Park National Corp OH's investment portfolio, making the stock its 18th biggest position. Park National Corp OH's holdings in McDonald's were worth $38,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in shares of McDonald's during the 4th quarter worth about $25,000. HFM Investment Advisors LLC bought a new position in shares of McDonald's during the 1st quarter worth about $26,000. Nova Wealth Management Inc. bought a new position in shares of McDonald's during the 1st quarter worth about $26,000. Pinney & Scofield Inc. bought a new position in shares of McDonald's during the 4th quarter worth about $29,000. Finally, Abound Financial LLC bought a new position in shares of McDonald's during the 1st quarter worth about $30,000. Institutional investors own 70.29% of the company's stock.

Insider Activity at McDonald's

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,341 shares of company stock valued at $2,544,327 over the last ninety days. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of analyst reports. Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and lowered their target price for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Stifel Nicolaus upped their target price on shares of McDonald's from $300.00 to $315.00 and gave the company a "hold" rating in a research note on Friday, August 22nd. Truist Financial upped their target price on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $325.14.

McDonald's Stock Down 1.0%

NYSE:MCD opened at $305.49 on Friday. The firm has a market cap of $218.00 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.14 and a beta of 0.50. McDonald's Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The company's 50-day moving average price is $305.33 and its two-hundred day moving average price is $306.57.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The firm 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%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.97 earnings per share. On average, research analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

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

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 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.

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