McDonald's Corporation (NYSE:MCD) Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. has reduced its holdings in McDonald's shares by 5.9%, owning approximately 2.62 million shares valued at around $819.9 million after selling 165,721 shares.
• McDonald's recently declared a quarterly dividend of $1.77 per share, set to be paid on September 16th, with a dividend yield of 2.3%.
• Analysts have a consensus rating of "Hold" for McDonald's stock, with a target price of $323.39, amidst various ratings adjustments by investment firms.

PNC Financial Services Group Inc. trimmed its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,624,866 shares of the fast-food giant's stock after selling 165,721 shares during the period. PNC Financial Services Group Inc. owned approximately 0.37% of McDonald's worth $819,929,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in McDonald's during the 4th quarter valued at $25,000. Pinney & Scofield Inc. bought a new position in McDonald's during the 4th quarter valued at $29,000. GKV Capital Management Co. Inc. bought a new position in McDonald's during the 4th quarter valued at $30,000. Abound Financial LLC bought a new position in McDonald's during the 1st quarter valued at $30,000. Finally, Copia Wealth Management bought a new position in McDonald's during the 4th quarter valued at $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on MCD. BMO Capital Markets reiterated an "outperform" rating and set a $345.00 price objective (up from $340.00) on shares of McDonald's in a research note on Monday, May 5th. Piper Sandler increased their price objective on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Barclays increased their price objective on shares of McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. Finally, Erste Group Bank downgraded shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $323.39.

McDonald's Trading Up 0.9%

MCD stock opened at $302.88 on Friday. McDonald's Corporation has a 52 week low of $265.33 and a 52 week high of $326.32. The company has a market capitalization of $216.57 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 3.14 and a beta of 0.52. The firm's 50-day moving average is $299.44 and its two-hundred day moving average is $303.52.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the previous year, the firm earned $2.70 EPS. McDonald's's revenue was down 3.5% on a year-over-year basis. On average, equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald's's payout ratio is 62.49%.

Insider Transactions at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. The trade was a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock worth $1,147,992 over the last 90 days. 0.25% of the stock is owned by insiders.

McDonald's 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.

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