McDonald’s Corporation (MCD) Shares Bought by Parsec Financial Management Inc.

Parsec Financial Management Inc. grew its stake in McDonald’s Corporation (NYSE:MCD) by 14.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,018 shares of the fast-food giant’s stock after purchasing an additional 380 shares during the period. Parsec Financial Management Inc.’s holdings in McDonald’s Corporation were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in shares of McDonald’s Corporation by 4.6% in the 1st quarter. Legal & General Group Plc now owns 4,241,304 shares of the fast-food giant’s stock valued at $549,720,000 after purchasing an additional 187,324 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of McDonald’s Corporation by 4.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,882,107 shares of the fast-food giant’s stock valued at $503,160,000 after purchasing an additional 174,209 shares in the last quarter. Swiss National Bank boosted its stake in shares of McDonald’s Corporation by 18.0% in the 1st quarter. Swiss National Bank now owns 3,653,548 shares of the fast-food giant’s stock valued at $473,536,000 after purchasing an additional 558,300 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of McDonald’s Corporation by 26.3% in the 2nd quarter. Bank of Montreal Can now owns 1,894,258 shares of the fast-food giant’s stock valued at $290,125,000 after purchasing an additional 393,881 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of McDonald’s Corporation by 0.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,881,094 shares of the fast-food giant’s stock valued at $243,570,000 after purchasing an additional 7,974 shares in the last quarter. Institutional investors own 67.92% of the company’s stock.

Shares of McDonald’s Corporation (NYSE MCD) opened at 163.91 on Friday. The stock’s 50 day moving average price is $158.52 and its 200 day moving average price is $150.45. The company has a market capitalization of $132.77 billion, a PE ratio of 26.83 and a beta of 0.69. McDonald’s Corporation has a 12 month low of $110.33 and a 12 month high of $164.40.

McDonald’s Corporation (NYSE:MCD) last posted its quarterly earnings data on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. McDonald’s Corporation had a negative return on equity of 264.89% and a net margin of 21.00%. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.96 billion. During the same period in the previous year, the firm earned $1.45 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts forecast that McDonald’s Corporation will post $6.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $1.01 per share. This is a boost from McDonald’s Corporation’s previous quarterly dividend of $0.94. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, November 30th. McDonald’s Corporation’s payout ratio is presently 61.54%.

In other news, insider Douglas M. Goare sold 17,286 shares of McDonald’s Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total transaction of $2,739,831.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin M. Ozan sold 25,322 shares of McDonald’s Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $4,013,537.00. Following the transaction, the chief financial officer now directly owns 24,039 shares in the company, valued at $3,810,181.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,938 shares of company stock worth $11,033,009. Insiders own 0.24% of the company’s stock.

A number of equities research analysts have recently weighed in on MCD shares. Nomura set a $172.00 price target on shares of McDonald’s Corporation and gave the company a “buy” rating in a research note on Wednesday, July 19th. Wells Fargo & Company restated an “outperform” rating and issued a $175.00 price target (up from $165.00) on shares of McDonald’s Corporation in a research note on Monday, June 26th. Royal Bank Of Canada set a $170.00 price target on shares of McDonald’s Corporation and gave the company a “buy” rating in a research note on Thursday, June 22nd. Canaccord Genuity restated a “hold” rating and issued a $170.00 price target on shares of McDonald’s Corporation in a research note on Friday, October 6th. Finally, Goldman Sachs Group, Inc. (The) set a $174.00 price target on shares of McDonald’s Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. McDonald’s Corporation presently has a consensus rating of “Buy” and a consensus target price of $167.74.

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About McDonald’s Corporation

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

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