Park National Corp OH Sells 4,192 Shares of McDonald’s Co. (NYSE:MCD)

Park National Corp OH trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 121,816 shares of the fast-food giant’s stock after selling 4,192 shares during the quarter. McDonald’s comprises about 1.3% of Park National Corp OH’s holdings, making the stock its 20th biggest holding. Park National Corp OH’s holdings in McDonald’s were worth $37,094,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Concentric Wealth Management LLC boosted its position in McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after purchasing an additional 35 shares in the last quarter. Founders Financial Alliance LLC boosted its holdings in McDonald’s by 0.7% during the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after buying an additional 36 shares in the last quarter. 9258 Wealth Management LLC grew its position in McDonald’s by 1.3% during the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after buying an additional 37 shares during the period. Independence Bank of Kentucky increased its holdings in McDonald’s by 1.3% in the first quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock valued at $821,000 after buying an additional 38 shares in the last quarter. Finally, Weatherly Asset Management L. P. raised its position in shares of McDonald’s by 0.9% in the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock worth $1,234,000 after acquiring an additional 38 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now owns 43,256 shares in the company, valued at approximately $13,193,080. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. Insiders sold 31,751 shares of company stock worth $9,493,973 in the last three months. 0.23% of the stock is owned by company insiders.

McDonald’s Price Performance

Shares of MCD stock opened at $303.82 on Thursday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $306.96. The firm has a market cap of $218.96 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.99 and a beta of 0.73. The company has a 50-day moving average of $284.59 and a two-hundred day moving average of $271.49.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the business posted $3.17 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts anticipate that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.33%. McDonald’s’s dividend payout ratio is presently 60.10%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup raised their target price on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America reduced their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Guggenheim lifted their price target on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus reduced their price objective on shares of 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, Morgan Stanley dropped their target price on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $309.15.

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.