PNC Financial Services Group Inc. Sells 33,105 Shares of McDonald’s Co. (NYSE:MCD)

PNC Financial Services Group Inc. trimmed its stake in McDonald’s Co. (NYSE:MCD) by 1.1% in the second quarter, HoldingsChannel.com reports. The firm owned 3,053,169 shares of the fast-food giant’s stock after selling 33,105 shares during the period. McDonald’s accounts for about 0.8% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 22nd largest holding. PNC Financial Services Group Inc.’s holdings in McDonald’s were worth $911,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCD. Grey Fox Wealth Advisors LLC raised its stake in McDonald’s by 102.0% during the first quarter. Grey Fox Wealth Advisors LLC now owns 101 shares of the fast-food giant’s stock worth $28,000 after buying an additional 51 shares during the last quarter. Horizon Bancorp Inc. IN grew its holdings in McDonald’s by 160.0% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 117 shares of the fast-food giant’s stock worth $35,000 after acquiring an additional 72 shares during the period. Retirement Group LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at about $37,000. Worth Asset Management LLC increased its holdings in McDonald’s by 277.5% in the second quarter. Worth Asset Management LLC now owns 151 shares of the fast-food giant’s stock worth $45,000 after purchasing an additional 111 shares in the last quarter. Finally, Compass Wealth Management LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at $45,000. 67.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the subject of a number of research reports. Guggenheim reduced their price target on shares of McDonald’s from $330.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, October 19th. JPMorgan Chase & Co. boosted their target price on McDonald’s from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Tuesday, October 31st. Oppenheimer raised their price objective on McDonald’s from $315.00 to $330.00 in a research note on Friday, July 28th. Loop Capital upped their target price on McDonald’s from $346.00 to $383.00 in a research report on Friday, July 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of McDonald’s in a research report on Thursday, October 19th. They issued a “buy” rating and a $287.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $316.66.

McDonald’s Price Performance

Shares of McDonald’s stock traded up $1.39 on Tuesday, reaching $280.42. 264,874 shares of the company traded hands, compared to its average volume of 2,658,519. The firm has a market capitalization of $203.40 billion, a PE ratio of 24.56, a PEG ratio of 2.64 and a beta of 0.70. The company has a 50 day moving average of $264.07 and a 200 day moving average of $280.57. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $299.35.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, October 30th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.19. McDonald’s had a negative return on equity of 157.19% and a net margin of 33.31%. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the business posted $2.68 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, analysts anticipate that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $1.67 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.52. The ex-dividend date is Thursday, November 30th. This represents a $6.68 annualized dividend and a dividend yield of 2.38%. McDonald’s’s dividend payout ratio (DPR) is presently 58.80%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $282.02, for a total value of $1,265,423.74. Following the completion of the transaction, the insider now owns 10,786 shares in the company, valued at approximately $3,041,867.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $282.02, for a total transaction of $1,265,423.74. Following the sale, the insider now owns 10,786 shares of the company’s stock, valued at approximately $3,041,867.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Heidi B. Capozzi sold 688 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $282.54, for a total transaction of $194,387.52. Following the completion of the transaction, the executive vice president now directly owns 20,019 shares of the company’s stock, valued at $5,656,168.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,443 shares of company stock worth $5,863,300. Corporate insiders own 0.27% of the company’s stock.

About McDonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.