McDonald’s Corporation $MCD Shares Sold by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. decreased its position in McDonald’s Corporation (NYSE:MCD) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,610 shares of the fast-food giant’s stock after selling 45 shares during the quarter. McDonald’s accounts for approximately 1.3% of Pinnacle West Asset Management Inc.’s holdings, making the stock its 24th largest position. Pinnacle West Asset Management Inc.’s holdings in McDonald’s were worth $1,931,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of McDonald’s by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after acquiring an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after acquiring an additional 1,344,954 shares in the last quarter. Northern Trust Corp grew its position in shares of McDonald’s by 1.1% in the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after acquiring an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of McDonald’s by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock worth $1,606,354,000 after acquiring an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of McDonald’s by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $297.07 on Friday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The stock has a market cap of $211.99 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.09 and a beta of 0.50. The business has a fifty day moving average of $306.31 and a 200-day moving average of $305.79.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is currently 60.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on McDonald’s in a research report on Wednesday. They issued a “sector perform” rating and a $320.00 target price for the company. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a research report on Thursday, July 10th. Guggenheim dropped their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday. Argus downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Hold” and a consensus price target of $325.18.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock worth $1,973,407 over the last 90 days. 0.25% of the stock is currently owned by corporate 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.