Pine Valley Investments Ltd Liability Co Has $5.92 Million Stake in McDonald’s Co. (NYSE:MCD)

Pine Valley Investments Ltd Liability Co cut its position in shares of McDonald’s Co. (NYSE:MCD) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,452 shares of the fast-food giant’s stock after selling 492 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in McDonald’s were worth $5,923,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MCD. Anchor Investment Management LLC grew its holdings in McDonald’s by 7.7% during the 3rd quarter. Anchor Investment Management LLC now owns 14,083 shares of the fast-food giant’s stock worth $4,288,000 after acquiring an additional 1,003 shares during the period. Tudor Financial Inc. acquired a new position in shares of McDonald’s in the 3rd quarter valued at about $394,000. Diamant Asset Management Inc. boosted its position in shares of McDonald’s by 1.9% during the 3rd quarter. Diamant Asset Management Inc. now owns 9,544 shares of the fast-food giant’s stock valued at $2,906,000 after purchasing an additional 180 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of McDonald’s during the 3rd quarter valued at about $1,647,000. Finally, McIlrath & Eck LLC grew its stake in McDonald’s by 11.6% during the third quarter. McIlrath & Eck LLC now owns 1,537 shares of the fast-food giant’s stock worth $468,000 after purchasing an additional 160 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 1.6 %

MCD stock opened at $296.00 on Thursday. The firm has a market cap of $212.12 billion, a PE ratio of 25.99, a P/E/G ratio of 4.01 and a beta of 0.73. The business has a 50 day moving average of $299.17 and a 200-day moving average of $280.71. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. On average, 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. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Wall Street Analyst Weigh In

MCD has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. The Goldman Sachs Group boosted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. TD Cowen restated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, KeyCorp increased their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Twelve equities research 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 has an average rating of “Moderate Buy” and an average price target of $320.50.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value 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. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,099 shares of company stock valued at $10,273,786. Company insiders own 0.23% of the company’s stock.

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.