Pinnacle Holdings LLC Sells 688 Shares of McDonald’s Co. (NYSE:MCD)

Pinnacle Holdings LLC decreased its stake in McDonald’s Co. (NYSE:MCD) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,526 shares of the fast-food giant’s stock after selling 688 shares during the period. McDonald’s comprises about 1.0% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 23rd biggest position. Pinnacle Holdings LLC’s holdings in McDonald’s were worth $2,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Boltwood Capital Management raised its stake in shares of McDonald’s by 1.9% during the fourth quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock worth $546,000 after acquiring an additional 35 shares in the last quarter. Pettee Investors Inc. grew its stake in shares of McDonald’s by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after buying an additional 35 shares during the last quarter. Modus Advisors LLC increased its holdings in shares of McDonald’s by 0.4% in the fourth quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant’s stock worth $2,724,000 after buying an additional 36 shares during the period. Independent Wealth Network Inc. boosted its holdings in McDonald’s by 5.1% during the 4th quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock valued at $213,000 after acquiring an additional 36 shares during the period. Finally, Blue Barn Wealth LLC increased its stake in McDonald’s by 4.3% in the 4th quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant’s stock worth $252,000 after purchasing an additional 36 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MCD shares. Bank of America raised their price target on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. KeyCorp lifted their price target on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. TD Securities reiterated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Monday, February 10th. Finally, Morgan Stanley reduced their price objective on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $322.87.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 3,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $300.76, for a total value of $962,432.00. Following the completion of the sale, the chief marketing officer now directly owns 9,858 shares of the company’s stock, valued at $2,964,892.08. The trade was a 24.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,497 shares of company stock worth $8,461,400 over the last three months. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 0.2 %

MCD stock opened at $299.35 on Wednesday. The company has a market capitalization of $213.88 billion, a PE ratio of 26.28, a P/E/G ratio of 3.10 and a beta of 0.62. The business’s fifty day moving average price is $304.80 and its 200 day moving average price is $298.86. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share 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%. Research analysts predict that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

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.