Parr Mcknight Wealth Management Group LLC Makes New $4.71 Million Investment in McDonald's Co. (NYSE:MCD)

Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of McDonald's Co. (NYSE:MCD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,244 shares of the fast-food giant's stock, valued at approximately $4,709,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northeast Financial Consultants Inc grew its stake in shares of McDonald's by 0.5% during the fourth 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. increased its stake in McDonald's by 0.7% in the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant's stock worth $1,566,000 after purchasing an additional 35 shares during the period. Covestor Ltd increased its stake in McDonald's by 4.1% in the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant's stock worth $261,000 after purchasing an additional 35 shares during the period. Independent Wealth Network Inc. lifted its position in shares of 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 purchasing an additional 36 shares during the last quarter. Finally, Blue Barn Wealth LLC boosted its stake in shares of McDonald's by 4.3% during the fourth quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant's stock valued at $252,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCD. Barclays raised their price target on shares of McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of McDonald's from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Truist Financial set a $350.00 price objective on McDonald's in a research note on Friday, May 2nd. Robert W. Baird lifted their target price on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Bank of America increased 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. Twelve equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, McDonald's has a consensus rating of "Moderate Buy" and an average target price of $325.91.

McDonald's Stock Performance

MCD stock traded down $1.41 on Wednesday, hitting $313.55. 713,297 shares of the company's stock were exchanged, compared to its average volume of 3,530,059. The firm has a 50 day moving average price of $311.99 and a two-hundred day moving average price of $301.75. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The stock has a market cap of $224.20 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57.

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

McDonald's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.26%. McDonald's's dividend payout ratio (DPR) is 62.49%.

Insiders Place Their Bets

In other McDonald's news, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the transaction, the executive vice president now owns 5,564 shares in the company, valued at approximately $1,720,778.28. This represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the sale, the insider now directly owns 12,100 shares in the company, valued at $3,853,850. This represents a 7.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,878 shares of company stock valued at $904,192. 0.25% of the stock is owned by company insiders.

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.