McDonald’s Corporation $MCD Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,592,768 shares of the fast-food giant’s stock after selling 32,098 shares during the period. PNC Financial Services Group Inc.’s holdings in McDonald’s were worth $757,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. grew its position in shares of McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Legacy Investment Solutions LLC acquired a new stake in McDonald’s in the second quarter valued at approximately $25,000. HFM Investment Advisors LLC acquired a new stake in McDonald’s in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s in the first quarter valued at approximately $26,000. Finally, GFG Capital LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth approximately $29,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In related news, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares in the company, valued at approximately $1,383,734.52. This represents a 74.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 15,134 shares of company stock worth $4,570,716. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 2.5%

NYSE MCD opened at $306.48 on Wednesday. The business’s fifty day simple moving average is $303.91 and its 200-day simple moving average is $304.75. The firm has a market cap of $218.26 billion, a PE ratio of 26.26, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the business posted $3.23 earnings per share. McDonald’s’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is presently 63.48%.

Analyst Ratings Changes

Several equities research analysts recently commented on MCD shares. BMO Capital Markets reissued an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Morgan Stanley set a $335.00 price target on shares of McDonald’s in a research report on Friday, October 17th. Barclays lowered their price objective on McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, TD Cowen boosted their price objective on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $323.91.

About McDonald’s

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.