Park National Corp OH Sells 932 Shares of McDonald’s Co. (NYSE:MCD)

Park National Corp OH lowered its position in McDonald’s Co. (NYSE:MCD) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 120,884 shares of the fast-food giant’s stock after selling 932 shares during the period. McDonald’s comprises about 1.3% of Park National Corp OH’s investment portfolio, making the stock its 22nd biggest position. Park National Corp OH’s holdings in McDonald’s were worth $35,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in McDonald’s in the third quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of McDonald’s in the 3rd quarter worth $31,000. Hara Capital LLC purchased a new stake in shares of McDonald’s during the 3rd quarter valued at $44,000. Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s during the 3rd quarter valued at $58,000. Finally, FSA Wealth Management LLC purchased a new position in McDonald’s in the third quarter worth $72,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $289.38 on Wednesday. The stock has a market cap of $207.38 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a 50-day moving average of $294.40 and a 200 day moving average of $285.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $3.19 earnings per share. Research analysts expect that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $453,882. This represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,050 shares of company stock valued at $3,556,688. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on MCD. BMO Capital Markets increased their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial decreased their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. UBS Group upped their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $320.65.

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.