Parallel Advisors LLC Grows Stock Holdings in McDonald’s Co. (NYSE:MCD)

Parallel Advisors LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,543 shares of the fast-food giant’s stock after purchasing an additional 248 shares during the period. Parallel Advisors LLC’s holdings in McDonald’s were worth $4,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. acquired a new position in McDonald’s in the 4th quarter worth about $25,000. Atala Financial Inc acquired a new position in shares of McDonald’s during the 4th quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of McDonald’s during the 4th quarter valued at approximately $27,000. Collier Financial acquired a new stake in McDonald’s in the 4th quarter valued at $29,000. Finally, Pinney & Scofield Inc. purchased a new stake in McDonald’s in the 4th quarter worth $29,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

McDonald’s stock opened at $313.68 on Friday. The business’s 50-day simple moving average is $312.40 and its 200-day simple moving average is $302.00. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The firm has a market capitalization of $224.29 billion, a PE ratio of 27.54, a PEG ratio of 3.10 and a beta of 0.57.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts’ consensus estimates of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.70 earnings per share. Research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, June 2nd. McDonald’s’s dividend payout ratio is 62.49%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of research analyst reports. Wedbush increased their target price on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Bank of America raised their price objective on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. TD Securities reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Monday, February 10th. Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. Finally, BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Twelve analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $325.91.

McDonald’s Company Profile

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.