PNC Financial Services Group Inc. Sells 29,490 Shares of McDonald's Co. (NYSE:MCD)

PNC Financial Services Group Inc. lowered its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,823,744 shares of the fast-food giant's stock after selling 29,490 shares during the period. PNC Financial Services Group Inc. owned 0.39% of McDonald's worth $859,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Hantz Financial Services Inc. bought a new position in shares of McDonald's in the second quarter worth $6,612,000. Kennebec Savings Bank bought a new position in McDonald's in the 3rd quarter worth about $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of McDonald's by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant's stock valued at $35,194,000 after acquiring an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of McDonald's by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant's stock valued at $14,978,000 after acquiring an additional 2,997 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. grew its holdings in shares of McDonald's by 17.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant's stock worth $15,018,000 after purchasing an additional 7,200 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

McDonald's Stock Performance

Shares of NYSE MCD traded down $0.42 during mid-day trading on Tuesday, hitting $290.68. 2,352,483 shares of the stock traded hands, compared to its average volume of 3,501,425. The stock has a fifty day moving average price of $300.06 and a 200-day moving average price of $277.60. The company has a market cap of $208.31 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.89 and a beta of 0.74. McDonald's Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts' consensus estimates of $3.18 by $0.05. McDonald's had a net margin of 31.79% and a negative return on equity of 175.42%. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the firm earned $3.19 EPS. The company's revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that McDonald's Co. will post 11.77 EPS for the current fiscal year.

McDonald's Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This is a boost from McDonald's's previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald's's payout ratio is currently 62.16%.

Insider Buying and Selling

In other McDonald's news, EVP Marion K. Gross sold 1,498 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 in the last 90 days. Insiders own 0.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on MCD. Citigroup lifted their target price on shares of McDonald's from $301.00 to $317.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Wedbush reiterated an "outperform" rating and issued a $295.00 target price on shares of McDonald's in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on McDonald's from $284.00 to $325.00 and gave the company a "neutral" rating in a research note on Tuesday, September 24th. Baird R W lowered McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI increased their price objective on McDonald's from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $319.46.

McDonald's Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.