Pitcairn Co. Sells 1,068 Shares of McDonald’s Co. (NYSE:MCD)

Pitcairn Co. trimmed its position in McDonald’s Co. (NYSE:MCD) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,551 shares of the fast-food giant’s stock after selling 1,068 shares during the quarter. Pitcairn Co.’s holdings in McDonald’s were worth $3,213,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kennebec Savings Bank bought a new position in McDonald’s in the third quarter valued at approximately $1,394,000. Hantz Financial Services Inc. bought a new position in McDonald’s in the second quarter valued at approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after acquiring an additional 51,210 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its stake in McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after acquiring an additional 2,997 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now directly owns 11,484 shares of the company’s stock, valued at $3,428,777.88. The trade was a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,498 shares of company stock worth $10,381,296. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.6 %

MCD stock opened at $290.30 on Friday. The company’s fifty day simple moving average is $299.85 and its 200 day simple moving average is $278.06. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a market cap of $208.03 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.84 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 analyst estimates of $6.82 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 58.65%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup boosted their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

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.