Parr Mcknight Wealth Management Group LLC Buys Shares of 16,244 McDonald's Co. (NYSE:MCD)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of McDonald's Co. (NYSE:MCD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,244 shares of the fast-food giant's stock, valued at approximately $4,709,000.

Other hedge funds also recently made changes to their positions in the company. Northeast Financial Consultants Inc increased its stake in McDonald's by 0.5% in the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock valued at $2,170,000 after buying an additional 34 shares during the last quarter. Pettee Investors Inc. grew its holdings in shares of McDonald's by 0.7% in the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant's stock valued at $1,566,000 after acquiring an additional 35 shares in the last quarter. Covestor Ltd increased its position in shares of McDonald's by 4.1% in the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant's stock valued at $261,000 after acquiring an additional 35 shares during the last quarter. Independent Wealth Network Inc. raised its holdings in McDonald's by 5.1% during the fourth quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant's stock worth $213,000 after acquiring an additional 36 shares in the last quarter. Finally, Blue Barn Wealth LLC raised its holdings in McDonald's by 4.3% during the fourth quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant's stock worth $252,000 after acquiring an additional 36 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Manuel Jm Steijaert sold 10,459 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $308.71, for a total value of $3,228,797.89. Following the completion of the transaction, the executive vice president now directly owns 4,606 shares in the company, valued at approximately $1,421,918.26. The trade was a 69.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the sale, the insider now directly owns 12,100 shares of the company's stock, valued at approximately $3,853,850. This trade represents a 7.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,337 shares of company stock worth $4,123,534. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America boosted their price target on McDonald's from $312.00 to $316.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Piper Sandler boosted their target price on shares of McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Barclays lifted their price objective on shares of McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, KeyCorp upped their target price on shares of McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Eleven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, McDonald's currently has an average rating of "Moderate Buy" and an average price target of $325.91.

McDonald's Stock Performance

NYSE:MCD opened at $314.28 on Friday. McDonald's Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The firm's 50-day simple moving average is $311.46 and its 200 day simple moving average is $301.32. The firm has a market cap of $224.72 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 3.10 and a beta of 0.57.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. The company had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $2.70 earnings per share. Sell-side analysts anticipate that McDonald's Co. will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.25%. McDonald's's dividend payout ratio is presently 62.49%.

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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