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

Pinnacle Financial Partners Inc grew its position in McDonald’s Co. (NYSE:MCD) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,082 shares of the fast-food giant’s stock after purchasing an additional 803 shares during the period. Pinnacle Financial Partners Inc’s holdings in McDonald’s were worth $9,629,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s in the third quarter worth about $25,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of McDonald’s in the fourth quarter worth about $27,000. Collier Financial purchased a new stake in shares of McDonald’s in the fourth quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McDonald’s in the third quarter worth about $31,000. Finally, Hara Capital LLC purchased a new stake in shares of McDonald’s in the third quarter worth about $44,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $304.76 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market cap of $218.40 billion, a PE ratio of 26.76, a P/E/G ratio of 3.10 and a beta of 0.74. The stock has a 50 day moving average price of $292.61 and a 200 day moving average price of $293.92.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio is presently 62.16%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial lowered their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird increased their price target on McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price target on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Wedbush increased their price target on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, BMO Capital Markets increased their price target on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $323.61.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $292.50, for a total value of $321,457.50. Following the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,205 shares of company stock valued at $6,703,569. 0.23% of the stock is currently owned by insiders.

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.