Parallel Advisors LLC Raises Position in McDonald’s Corporation $MCD

Parallel Advisors LLC increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 2.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 15,968 shares of the fast-food giant’s stock after purchasing an additional 425 shares during the period. Parallel Advisors LLC’s holdings in McDonald’s were worth $4,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $25,000. HFM Investment Advisors LLC acquired a new stake in McDonald’s in the first quarter valued at $26,000. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s during the 1st quarter worth $26,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald’s during the 4th quarter worth $29,000. Finally, Abound Financial LLC purchased a new position in shares of McDonald’s in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,341 shares of company stock worth $2,544,327 in the last three months. 0.25% of the stock is currently owned by insiders.

McDonald’s Price Performance

Shares of MCD stock opened at $302.08 on Tuesday. The firm’s 50-day simple moving average is $305.50 and its 200-day simple moving average is $306.53. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The firm has a market cap of $215.56 billion, a P/E ratio of 25.88, a PEG ratio of 3.11 and a beta of 0.49.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.97 earnings per share. Analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Loop Capital lowered shares of McDonald’s from a “buy” rating to a “hold” rating and lowered their target price for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Bank of America lowered their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. TD Securities reaffirmed a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a research note on Thursday, June 5th. Evercore ISI boosted their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average target price of $325.14.

About McDonald’s

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.