Parr Mcknight Wealth Management Group LLC Grows Stock Holdings in McDonald's Corporation (NYSE:MCD)

Parr Mcknight Wealth Management Group LLC grew its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,040 shares of the fast-food giant's stock after acquiring an additional 1,796 shares during the period. McDonald's comprises approximately 0.8% of Parr Mcknight Wealth Management Group LLC's investment portfolio, making the stock its 29th biggest holding. Parr Mcknight Wealth Management Group LLC's holdings in McDonald's were worth $5,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in McDonald's in the fourth quarter worth approximately $2,725,190,000. GAMMA Investing LLC raised its stake in McDonald's by 39,039.7% in the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock worth $1,092,645,000 after buying an additional 3,488,982 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in McDonald's in the fourth quarter worth approximately $350,935,000. Northern Trust Corp raised its stake in McDonald's by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock worth $2,570,511,000 after buying an additional 895,896 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in McDonald's by 24.4% in the fourth quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant's stock worth $1,175,326,000 after buying an additional 794,536 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCD. KeyCorp cut their price target on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Loop Capital lowered shares of McDonald's from a "buy" rating to a "hold" rating and cut their price target for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Barclays lifted their price target on shares of McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. TD Securities reaffirmed a "hold" rating and issued a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. Finally, Citigroup upped their price target on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $322.29.

McDonald's Stock Up 0.6%

Shares of McDonald's stock traded up $1.83 during mid-day trading on Friday, hitting $300.22. The stock had a trading volume of 2,781,877 shares, compared to its average volume of 3,534,051. The firm has a 50-day moving average of $304.35 and a two-hundred day moving average of $302.44. McDonald's Corporation has a 12-month low of $246.12 and a 12-month high of $326.32. The firm has a market cap of $214.67 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts' consensus estimates of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted $2.70 EPS. Sell-side analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.36%. McDonald's's payout ratio is currently 62.49%.

Insider Buying and Selling

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the sale, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. This represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's 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 completion of the transaction, the chief marketing officer owned 8,858 shares of the company's stock, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock valued at $1,165,843 in the last ninety days. 0.25% of the stock is currently owned by corporate 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.