Parsons Capital Management Inc. RI Sells 177 Shares of McDonald’s Corporation $MCD

Parsons Capital Management Inc. RI reduced its stake in McDonald’s Corporation (NYSE:MCD) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,482 shares of the fast-food giant’s stock after selling 177 shares during the period. Parsons Capital Management Inc. RI’s holdings in McDonald’s were worth $4,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of McDonald’s by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after acquiring an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after acquiring an additional 1,344,954 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of McDonald’s by 1.1% in the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after acquiring an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of McDonald’s by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock worth $1,606,354,000 after acquiring an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of McDonald’s by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCD. Stifel Nicolaus boosted their target price on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Citigroup boosted their target price on McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. KeyCorp reissued an “overweight” rating and issued a $335.00 target price (up from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. BMO Capital Markets boosted their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $325.86.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were 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 owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is currently owned by insiders.

McDonald’s Stock Performance

NYSE:MCD opened at $300.81 on Thursday. The stock’s fifty day moving average price is $306.78 and its two-hundred day moving average price is $306.21. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The company has a market cap of $214.66 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 3.09 and a beta of 0.51.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 EPS. On average, equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. McDonald’s’s payout ratio is presently 60.67%.

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.