Parallel Advisors LLC Purchases 250 Shares of McDonald’s Co. (NYSE:MCD)

Parallel Advisors LLC grew its position in shares of McDonald’s Co. (NYSE:MCD) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,492 shares of the fast-food giant’s stock after acquiring an additional 250 shares during the quarter. Parallel Advisors LLC’s holdings in McDonald’s were worth $3,693,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in McDonald’s by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after buying an additional 599,745 shares during the last quarter. Norges Bank bought a new stake in McDonald’s during the fourth quarter worth about $2,684,899,000. Price T Rowe Associates Inc. MD boosted its position in McDonald’s by 15.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the last quarter. Gallagher Fiduciary Advisors LLC grew its stake in McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MCD shares. Citigroup raised their target price on shares of McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research note on Friday. Stifel Nicolaus lowered their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. cut their target price on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Evercore ISI upped their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and cut their price objective for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.37.

McDonald’s Price Performance

Shares of NYSE MCD opened at $296.53 on Friday. The business has a fifty day moving average price of $272.89 and a two-hundred day moving average price of $270.64. The stock has a market capitalization of $213.70 billion, a PE ratio of 25.17, a P/E/G ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $3.17 EPS. On average, equities analysts expect that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio is 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. Insiders have sold 6,291 shares of company stock valued at $1,689,073 over the last three months. 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.