Park National Corp OH Purchases 14,178 Shares of McDonald’s Co. (NYSE:MCD)

Park National Corp OH raised its stake in shares of McDonald’s Co. (NYSE:MCD) by 12.7% during the second quarter, HoldingsChannel reports. The firm owned 126,008 shares of the fast-food giant’s stock after purchasing an additional 14,178 shares during the quarter. McDonald’s makes up about 1.2% of Park National Corp OH’s investment portfolio, making the stock its 22nd largest position. Park National Corp OH’s holdings in McDonald’s were worth $32,112,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MCD. Janiczek Wealth Management LLC lifted its holdings in McDonald’s by 38.2% in the 4th quarter. Janiczek Wealth Management LLC now owns 832 shares of the fast-food giant’s stock worth $247,000 after purchasing an additional 230 shares during the last quarter. Sapient Capital LLC acquired a new stake in McDonald’s during the 4th quarter valued at approximately $3,643,000. Tennessee Valley Asset Management Partners bought a new position in McDonald’s during the 4th quarter valued at $131,000. Birch Hill Investment Advisors LLC grew its holdings in McDonald’s by 3.3% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,285 shares of the fast-food giant’s stock valued at $1,864,000 after buying an additional 200 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in McDonald’s by 1.7% during the 4th quarter. Highview Capital Management LLC DE now owns 3,079 shares of the fast-food giant’s stock valued at $913,000 after buying an additional 50 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the topic of a number of research reports. Jefferies Financial Group reduced their price objective on McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Morgan Stanley dropped their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Truist Financial cut their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Stifel Nicolaus cut their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $303.00.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the transaction, the insider now directly owns 15,878 shares in the company, valued at $4,209,734.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,794 shares of company stock worth $1,234,491 over the last quarter. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Up 0.6 %

NYSE:MCD traded up $1.55 during trading hours on Monday, hitting $269.46. 2,918,890 shares of the company traded hands, compared to its average volume of 3,592,597. The company has a market cap of $194.19 billion, a PE ratio of 22.77, a PEG ratio of 3.58 and a beta of 0.71. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The firm’s 50-day simple moving average is $257.41 and its 200-day simple moving average is $271.61.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the business earned $3.17 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts expect that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.