McDonald’s Co. (NYSE:MCD) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lessened its position in McDonald’s Co. (NYSE:MCD) by 4.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,279 shares of the fast-food giant’s stock after selling 1,508 shares during the period. Pinnacle Financial Partners Inc’s holdings in McDonald’s were worth $9,829,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MCD. Steigerwald Gordon & Koch Inc. lifted its stake in McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after acquiring an additional 33 shares during the last quarter. Riversedge Advisors LLC lifted its stake in McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC grew its holdings in McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares during the period. Clear Creek Financial Management LLC increased its position in McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after buying an additional 35 shares during the last quarter. Finally, GDS Wealth Management raised its stake in McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Down 0.5 %

Shares of MCD stock opened at $297.24 on Thursday. The business’s 50-day moving average price is $299.60 and its 200-day moving average price is $277.00. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market capitalization of $213.01 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.97 and a beta of 0.74.

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

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.38%. McDonald’s’s dividend payout ratio is presently 58.65%.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. KeyCorp lifted their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. TD Cowen restated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Citigroup upped their target price on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Transactions at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock worth $10,698,289 over the last ninety days. 0.23% of the stock is owned by insiders.

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.