PNC Financial Services Group Inc. Decreases Stock Position in McDonald’s Co. (NYSE:MCD)

PNC Financial Services Group Inc. lessened its holdings in McDonald’s Co. (NYSE:MCD) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,823,744 shares of the fast-food giant’s stock after selling 29,490 shares during the quarter. PNC Financial Services Group Inc.’s holdings in McDonald’s were worth $859,858,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MCD. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter worth $38,000. Hara Capital LLC purchased a new position in shares of McDonald’s in the third quarter worth about $44,000. Peterson Financial Group Inc. purchased a new position in shares of McDonald’s in the third quarter worth about $58,000. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the second quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in McDonald’s in the second quarter valued at approximately $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 8.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock valued at $10,698,289 in the last quarter. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MCD shares. JPMorgan Chase & Co. lifted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Tigress Financial boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America increased their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen reissued a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group raised their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $291.10 on Tuesday. The business’s 50 day moving average price is $300.06 and its 200 day moving average price is $277.60. The company has a market cap of $208.61 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 3.89 and a beta of 0.74. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the company posted $3.19 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.43%. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

McDonald’s Company 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.