Park Place Capital Corp Has $32,000 Stake in McDonald’s Corporation $MCD

Park Place Capital Corp trimmed its stake in shares of McDonald’s Corporation (NYSE:MCD) by 68.2% during the second quarter, Holdings Channel.com reports. The firm owned 108 shares of the fast-food giant’s stock after selling 232 shares during the period. Park Place Capital Corp’s holdings in McDonald’s were worth $32,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC lifted its position in shares of McDonald’s by 2,625.0% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 109 shares of the fast-food giant’s stock worth $32,000 after purchasing an additional 105 shares in the last quarter. XML Financial LLC raised its stake in shares of McDonald’s by 11.7% during the second quarter. XML Financial LLC now owns 7,721 shares of the fast-food giant’s stock worth $2,256,000 after buying an additional 810 shares during the last quarter. Centennial Wealth Advisory LLC raised its stake in shares of McDonald’s by 3.0% during the second quarter. Centennial Wealth Advisory LLC now owns 2,690 shares of the fast-food giant’s stock worth $787,000 after buying an additional 79 shares during the last quarter. Smith Chas P & Associates PA Cpas raised its stake in shares of McDonald’s by 0.9% during the second quarter. Smith Chas P & Associates PA Cpas now owns 176,983 shares of the fast-food giant’s stock worth $51,709,000 after buying an additional 1,589 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC raised its stake in shares of McDonald’s by 10.2% during the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,376 shares of the fast-food giant’s stock worth $694,000 after buying an additional 220 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $300.81 on Thursday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The company has a market capitalization of $214.66 billion, a PE ratio of 25.78, a PEG ratio of 3.09 and a beta of 0.51. The company has a 50 day moving average price of $306.78 and a two-hundred day moving average price of $306.21.

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. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

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

Insider Activity at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the 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 of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 over the last three months. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MCD shares. Morgan Stanley boosted their price target on shares of McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. BMO Capital Markets boosted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Piper Sandler boosted their price target on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Truist Financial boosted their price target on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Citigroup boosted their price target on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $325.86.

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.