Park National Corp OH decreased its holdings in McDonald's Co. (NYSE:MCD – Get Rating) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,558 shares of the fast-food giant's stock after selling 4,156 shares during the quarter. McDonald's accounts for about 1.0% of Park National Corp OH's holdings, making the stock its 28th largest holding. Park National Corp OH's holdings in McDonald's were worth $21,616,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MCD. Norges Bank acquired a new position in shares of McDonald's during the fourth quarter valued at approximately $2,060,325,000. BlackRock Inc. raised its holdings in shares of McDonald's by 4.5% during the fourth quarter. BlackRock Inc. now owns 52,918,755 shares of the fast-food giant's stock valued at $14,185,930,000 after acquiring an additional 2,294,758 shares during the last quarter. Capital World Investors raised its holdings in shares of McDonald's by 91.5% during the first quarter. Capital World Investors now owns 4,472,924 shares of the fast-food giant's stock valued at $1,106,065,000 after acquiring an additional 2,136,776 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of McDonald's by 1,189.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,191,692 shares of the fast-food giant's stock valued at $541,962,000 after purchasing an additional 2,021,754 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of McDonald's by 1.6% in the first quarter. Vanguard Group Inc. now owns 67,004,180 shares of the fast-food giant's stock valued at $16,568,793,000 after purchasing an additional 1,039,187 shares during the last quarter. Institutional investors and hedge funds own 67.27% of the company's stock.
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McDonald's Trading Up 0.6 %
NYSE:MCD opened at $254.91 on Friday. The firm has a market cap of $187.54 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 3.08 and a beta of 0.57. The stock has a fifty day moving average price of $258.16 and a 200 day moving average price of $248.88. McDonald's Co. has a 12-month low of $217.68 and a 12-month high of $271.15.
McDonald's (NYSE:MCD – Get Rating) last released its earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. The firm had revenue of $5.72 billion during the quarter, compared to analyst estimates of $5.82 billion. McDonald's had a negative return on equity of 129.90% and a net
margin of 25.77%. McDonald's's revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $2.37 earnings per share. Equities analysts forecast that McDonald's Co. will post 9.83 EPS for the current year.
McDonald's Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, September 1st were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Wednesday, August 31st. McDonald's's dividend payout ratio is presently 67.98%.
Insider Buying and Selling at McDonald's
In other McDonald's news, insider Ian Frederick Borden sold 8,000 shares of the firm's stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.80, for a total value of $2,046,400.00. Following the sale, the insider now directly owns 7,131 shares in the company, valued at $1,824,109.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McDonald's news, insider Ian Frederick Borden sold 8,000 shares of the firm's stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.80, for a total value of $2,046,400.00. Following the sale, the insider now directly owns 7,131 shares in the company, valued at $1,824,109.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Catherine A. Hoovel sold 2,371 shares of the firm's stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total value of $606,075.02. Following the completion of the sale, the senior vice president now owns 1,184 shares in the company, valued at $302,654.08. The disclosure for this sale can be found here. Insiders have sold a total of 20,191 shares of company stock worth $5,250,365 over the last ninety days. Corporate insiders own 0.25% of the company's stock.
Analysts Set New Price Targets
MCD has been the subject of several recent research reports. Robert W. Baird set a $285.00 price target on McDonald's in a report on Tuesday, July 19th. Cowen increased their price target on McDonald's from $275.00 to $290.00 and gave the company an "outperform" rating in a report on Wednesday, July 27th. Tigress Financial increased their price target on McDonald's from $314.00 to $320.00 and gave the company a "buy" rating in a report on Tuesday, August 30th. Guggenheim increased their price target on McDonald's to $290.00 and gave the company an "outperform" rating in a report on Wednesday, July 27th. Finally, KeyCorp increased their price target on McDonald's from $285.00 to $290.00 and gave the company an "overweight" rating in a report on Wednesday, July 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat.com, McDonald's presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.04.
McDonald's Profile
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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.
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