Pitcairn Co. Sells 1,068 Shares of McDonald’s Co. (NYSE:MCD)

Pitcairn Co. cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,551 shares of the fast-food giant’s stock after selling 1,068 shares during the period. Pitcairn Co.’s holdings in McDonald’s were worth $3,213,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Legal & General Group Plc lifted its holdings in McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of McDonald’s by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,015,441 shares of the fast-food giant’s stock valued at $613,722,000 after purchasing an additional 22,780 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

Shares of NYSE MCD opened at $290.30 on Friday. The stock has a market capitalization of $208.03 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.84 and a beta of 0.74. The business has a 50-day moving average of $299.85 and a 200-day moving average of $278.06. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the company earned $3.19 EPS. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now directly owns 11,484 shares in the company, valued at $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on 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 owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,498 shares of company stock worth $10,381,296. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of analyst reports. Barclays increased their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group increased their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Morgan Stanley increased their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target of $319.46.

About McDonald’s

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.