Pinnacle Financial Partners Inc. boosted its holdings in McDonald's Co. (NYSE:MCD) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,256 shares of the fast-food giant’s stock after purchasing an additional 1,617 shares during the period. Pinnacle Financial Partners Inc.’s holdings in McDonald's were worth $2,391,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Phocas Financial Corp. purchased a new position in shares of McDonald's during the 2nd quarter valued at $107,000. Proficio Capital Partners LLC raised its stake in shares of McDonald's by 0.7% during the 2nd quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock valued at $117,000 after purchasing an additional 5 shares during the period. Howe & Rusling Inc. raised its stake in shares of McDonald's by 75.0% during the 3rd quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock valued at $132,000 after purchasing an additional 360 shares during the period. Acrospire Investment Management LLC bought a new stake in shares of McDonald's during the 2nd quarter valued at $153,000. Finally, Accurate Investment Solutions Inc. raised its stake in shares of McDonald's by 861.3% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,019 shares of the fast-food giant’s stock valued at $160,000 after purchasing an additional 913 shares during the period. 67.43% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Stephen Easterbrook sold 171,577 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total value of $28,879,840.64. Following the completion of the transaction, the insider now owns 49,778 shares of the company’s stock, valued at approximately $8,378,632.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine A. Hoovel sold 1,398 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $170.54, for a total value of $238,414.92. Following the transaction, the vice president now directly owns 1,398 shares of the company’s stock, valued at approximately $238,414.92. The disclosure for this sale can be found here. Insiders sold a total of 207,550 shares of company stock valued at $35,118,055 in the last three months. Corporate insiders own 0.24% of the company’s stock.
Shares of McDonald's Co. (NYSE:MCD) opened at $163.90 on Tuesday. McDonald's Co. has a fifty-two week low of $125.27 and a fifty-two week high of $178.70. The company has a debt-to-equity ratio of -8.17, a current ratio of 1.28 and a quick ratio of 1.27. The firm has a market capitalization of $132,760.00, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59.
McDonald's (NYSE:MCD) last released its quarterly earnings data on Tuesday, January 30th. The fast-food giant reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.12. McDonald's had a negative return on equity of 217.17% and a net margin of 22.75%. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the business posted $1.44 EPS. The business’s revenue was down 11.4% on a year-over-year basis. sell-side analysts forecast that McDonald's Co. will post 7.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, February 28th. McDonald's’s dividend payout ratio is currently 63.52%.
MCD has been the topic of a number of analyst reports. Nomura set a $180.00 price objective on McDonald's and gave the company a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded McDonald's from a “hold” rating to a “buy” rating and set a $196.00 price objective on the stock in a research note on Thursday, January 18th. Stifel Nicolaus set a $172.00 target price on McDonald's and gave the stock a “neutral” rating in a research note on Wednesday, January 3rd. Piper Jaffray Companies upped their target price on McDonald's from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Finally, Goldman Sachs Group set a $200.00 target price on McDonald's and gave the stock a “buy” rating in a research note on Friday, January 19th. Nine analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. McDonald's currently has an average rating of “Buy” and an average target price of $184.95.
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McDonald's Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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