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

Parr Mcknight Wealth Management Group LLC lifted its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,040 shares of the fast-food giant's stock after purchasing an additional 1,796 shares during the quarter. McDonald's makes up about 0.8% of Parr Mcknight Wealth Management Group LLC's investment portfolio, making the stock its 29th largest position. 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 hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald's in the 4th quarter worth approximately $25,000. Atala Financial Inc acquired a new position in shares of McDonald's during the fourth quarter valued at $26,000. Abound Financial LLC bought a new stake in McDonald's during the 1st quarter worth about $30,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald's during the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new position in McDonald's in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider directly owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer 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. In the last ninety days, insiders have sold 3,817 shares of company stock valued at $1,165,843. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCD. Argus cut McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Truist Financial raised their target price on shares of McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a report on Wednesday. Loop Capital lowered shares of McDonald's from a "buy" rating to a "hold" rating and reduced their target price for the stock from $346.00 to $315.00 in a research note on Friday, June 6th. Northcoast Research downgraded McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Finally, Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $322.29.

McDonald's Trading Up 1.9%

Shares of MCD traded up $5.58 during trading hours on Thursday, reaching $298.60. 5,364,588 shares of the company traded hands, compared to its average volume of 3,536,694. The stock's fifty day moving average price is $304.66 and its 200 day moving average price is $302.39. 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 $213.51 billion, a price-to-earnings ratio of 26.36, a PEG 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 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the previous year, the business posted $2.70 EPS. McDonald's's revenue was down 3.5% on a year-over-year basis. On average, research analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid 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 2.37%. McDonald's's payout ratio is 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.