Pinnacle Financial Partners Inc Grows Stock Holdings in McDonald’s Co. (NYSE:MCD)

Pinnacle Financial Partners Inc raised its position in shares of McDonald’s Co. (NYSE:MCD) by 2.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 33,082 shares of the fast-food giant’s stock after buying 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 and other institutional investors have also modified their holdings of the company. Mattern Capital Management LLC boosted its position in shares of McDonald’s by 2.0% during the fourth quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock worth $8,729,000 after buying an additional 579 shares during the period. Bell Bank boosted its position in shares of McDonald’s by 3.0% during the fourth quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock worth $3,681,000 after buying an additional 371 shares during the period. Kennebec Savings Bank purchased a new position in shares of McDonald’s during the third quarter worth $1,394,000. YANKCOM Partnership purchased a new position in shares of McDonald’s during the fourth quarter worth $1,628,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCD has been the subject of several research analyst reports. Truist Financial lowered their price target on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Citigroup lifted their target price on McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays lifted their target price on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 10th. JPMorgan Chase & Co. lifted their target price on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Bank of America lifted their target price on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,099 shares of McDonald’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.60, for a total transaction of $334,755.40. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $475,176. The trade was a 41.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 3,200 shares of McDonald’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total value of $962,432.00. Following the sale, the chief marketing officer now owns 9,858 shares in the company, valued at $2,964,892.08. This trade represents a 24.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,205 shares of company stock worth $6,703,569. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $304.76 on Friday. The business’s 50-day simple moving average is $292.61 and its 200-day simple moving average is $293.92. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market capitalization of $218.40 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. On average, equities research analysts forecast that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

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.