PNC Financial Services Group Inc. Sells 36,808 Shares of McDonald’s Corporation $MCD

PNC Financial Services Group Inc. lowered its stake in McDonald’s Corporation (NYSE:MCD) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,613,399 shares of the fast-food giant’s stock after selling 36,808 shares during the period. PNC Financial Services Group Inc.’s holdings in McDonald’s were worth $812,218,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 1,649 shares during the period. Revolve Wealth Partners LLC increased its position in shares of McDonald’s by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after purchasing an additional 52 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in McDonald’s by 11.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,017 shares of the fast-food giant’s stock valued at $589,000 after buying an additional 206 shares during the period. United Bank raised its holdings in McDonald’s by 6.0% during the 2nd quarter. United Bank now owns 8,102 shares of the fast-food giant’s stock valued at $2,367,000 after buying an additional 459 shares during the period. Finally, Schnieders Capital Management LLC. lifted its position in McDonald’s by 2.5% in the second quarter. Schnieders Capital Management LLC. now owns 12,938 shares of the fast-food giant’s stock worth $3,780,000 after buying an additional 312 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MCD has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating on shares of McDonald’s in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. lowered their target price on shares of McDonald’s from $325.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Cfra raised shares of McDonald’s to a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company dropped their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Finally, KeyCorp reiterated an “overweight” rating on shares of McDonald’s in a report on Wednesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $336.32.

Key Headlines Impacting McDonald’s

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: Several bullish commentaries argue McDonald’s recent weakness may be an opportunity, citing improving top- and bottom-line growth, international resilience, and compressed earnings multiples that could make the stock more attractive. McDonald’s Sell-Off Is Your Opportunity
• Positive Sentiment: Another analyst upgrade says McDonald’s consistency deserves a higher multiple, pointing to faster recent revenue and earnings growth as evidence of a potential turnaround. McDonald’s: Consistency Deserves A Better Multiple (Rating Upgrade)
• Positive Sentiment: Menu innovation remains a supportive storyline, with McDonald’s rolling out new breakfast biscuits, a honey brown butter biscuit, and a Caesar menu that could help drive traffic and keep the brand in the conversation. McDonald’s Just Added 2 New Biscuits To Their Breakfast Menu
• Neutral Sentiment: Recent consumer-interest articles and product reviews highlight new limited-time menu items, but these are not yet proven to materially change earnings expectations. Review: McDonald’s Caesar sauce is the tangy menu addition we didn’t know we needed
• Negative Sentiment: Zacks noted that McDonald’s stock fell while the broader market improved, reinforcing the view that investors are rotating away from the name for now. McDonald’s (MCD) Stock Declines While Market Improves: Some Information for Investors
• Negative Sentiment: Bearish coverage says McDonald’s still may not be cheap enough despite the pullback, suggesting the market remains concerned about upside versus risk. McDonald’s: Still Not Good Enough

McDonald’s Price Performance

McDonald’s stock opened at $263.76 on Wednesday. The stock has a market cap of $187.40 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.87 and a beta of 0.41. The firm has a 50-day moving average of $276.71 and a two-hundred day moving average of $299.70. McDonald’s Corporation has a 1 year low of $263.65 and a 1 year high of $341.75.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.47 billion. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $2.67 earnings per share. Research analysts expect that McDonald’s Corporation will post 12.86 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $7.44 dividend on an annualized basis and a yield of 2.8%. McDonald’s’s payout ratio is 61.34%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 5,252 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the transaction, the insider owned 7,734 shares of the company’s stock, valued at approximately $2,198,930.88. This represents a 40.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total value of $769,108.68. Following the transaction, the executive vice president owned 6,268 shares in the company, valued at approximately $1,744,760.48. This represents a 30.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,681 shares of company stock valued at $2,456,440 over the last quarter. Company insiders own 0.26% of the company’s stock.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.