Park National Corp OH Increases Position in McDonald’s Co. (NYSE:MCD)

Park National Corp OH lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 10.4% during the 1st quarter, HoldingsChannel reports. The firm owned 111,830 shares of the fast-food giant’s stock after purchasing an additional 10,547 shares during the quarter. McDonald’s comprises 1.2% of Park National Corp OH’s investment portfolio, making the stock its 25th biggest position. Park National Corp OH’s holdings in McDonald’s were worth $31,530,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. acquired a new position in McDonald’s in the third quarter valued at approximately $6,110,000. Mirabella Financial Services LLP increased its position in shares of McDonald’s by 16.9% during the 3rd quarter. Mirabella Financial Services LLP now owns 4,203 shares of the fast-food giant’s stock worth $1,107,000 after purchasing an additional 607 shares during the last quarter. Bramshill Investments LLC purchased a new stake in McDonald’s in the 3rd quarter valued at about $53,000. Chiron Investment Management LLC acquired a new position in McDonald’s in the third quarter valued at about $9,293,000. Finally, Pearl River Capital LLC acquired a new stake in shares of McDonald’s during the third quarter valued at about $6,389,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America cut their target price on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. The Goldman Sachs Group began coverage on shares of McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target on the stock. BMO Capital Markets dropped their price objective on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Guggenheim lowered their price objective on McDonald’s from $325.00 to $315.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, June 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $315.14.

McDonald’s Price Performance

Shares of NYSE MCD opened at $250.79 on Wednesday. The firm’s 50-day moving average is $265.25 and its two-hundred day moving average is $280.88. The company has a market capitalization of $180.74 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.85 and a beta of 0.71. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the business earned $2.63 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. On average, analysts forecast that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,096 shares of company stock worth $1,127,678. 0.23% of the stock is owned by insiders.

McDonald’s 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.