Pinnacle Associates Ltd. Has $15.63 Million Holdings in McDonald’s Corporation $MCD

Pinnacle Associates Ltd. decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,485 shares of the fast-food giant’s stock after selling 446 shares during the period. Pinnacle Associates Ltd.’s holdings in McDonald’s were worth $15,627,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. UNIVEST FINANCIAL Corp increased its holdings in McDonald’s by 5.5% during the 2nd quarter. UNIVEST FINANCIAL Corp now owns 13,388 shares of the fast-food giant’s stock worth $3,912,000 after purchasing an additional 701 shares in the last quarter. Aljian Capital Management LLC boosted its position in shares of McDonald’s by 1.0% during the second quarter. Aljian Capital Management LLC now owns 6,528 shares of the fast-food giant’s stock worth $1,907,000 after buying an additional 62 shares during the period. Simon Quick Advisors LLC boosted its position in shares of McDonald’s by 105.8% during the second quarter. Simon Quick Advisors LLC now owns 15,615 shares of the fast-food giant’s stock worth $4,562,000 after buying an additional 8,027 shares during the period. Arbor Capital Management Inc. ADV grew its holdings in shares of McDonald’s by 3.5% during the second quarter. Arbor Capital Management Inc. ADV now owns 4,416 shares of the fast-food giant’s stock worth $1,316,000 after buying an additional 148 shares in the last quarter. Finally, Strs Ohio raised its position in McDonald’s by 2.9% in the 2nd quarter. Strs Ohio now owns 219,448 shares of the fast-food giant’s stock valued at $64,116,000 after buying an additional 6,226 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MCD shares. TD Cowen lifted their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Mizuho upgraded shares of McDonald’s to a “hold” rating in a research note on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday, October 8th. BMO Capital Markets raised their price objective on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, Evercore ISI upped their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, McDonald’s presently has an average rating of “Hold” and an average price target of $323.43.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,487 shares of company stock worth $1,395,970. 0.25% of the stock is owned by insiders.

McDonald’s Stock Down 0.0%

NYSE:MCD opened at $302.25 on Friday. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The firm has a market capitalization of $215.69 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 3.23 and a beta of 0.50. The stock’s 50 day moving average price is $306.00 and its two-hundred day moving average price is $305.63.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the previous year, the firm earned $2.97 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is 60.67%.

McDonald’s Company Profile

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.