PNC Financial Services Group Inc. Has $808.96 Million Stock Position in McDonald’s Co. (NYSE:MCD)

PNC Financial Services Group Inc. lowered its stake in McDonald’s Co. (NYSE:MCD) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,790,587 shares of the fast-food giant’s stock after selling 33,157 shares during the period. PNC Financial Services Group Inc. owned approximately 0.39% of McDonald’s worth $808,963,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MCD. Geode Capital Management LLC boosted its holdings in McDonald’s by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after purchasing an additional 220,365 shares during the period. Wellington Management Group LLP boosted its holdings in McDonald’s by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after purchasing an additional 128,800 shares during the period. Bank of New York Mellon Corp boosted its holdings in McDonald’s by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock valued at $1,682,473,000 after purchasing an additional 52,195 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in McDonald’s by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,694,202 shares of the fast-food giant’s stock valued at $1,650,692,000 after purchasing an additional 129,843 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in McDonald’s by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock valued at $841,966,000 after purchasing an additional 19,867 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the transaction, the insider now directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. This represents a 11.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,504 shares of company stock worth $10,206,575. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $321.52 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $323.17. The firm has a 50 day simple moving average of $295.69 and a 200 day simple moving average of $296.25. The company has a market cap of $229.71 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, analysts expect that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MCD shares. Citigroup boosted their price objective on shares of McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. TD Securities reissued a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Monday, February 10th. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Truist Financial cut their price target on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, BMO Capital Markets upped their price target on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.61.

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.