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

PNC Financial Services Group Inc. cut its position in shares of McDonald’s Co. (NYSE:MCD) by 1.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,790,587 shares of the fast-food giant’s stock after selling 33,157 shares during the quarter. PNC Financial Services Group Inc.’s holdings in McDonald’s were worth $808,963,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in McDonald’s by 1.4% in the third 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 in the last quarter. Wellington Management Group LLP increased its stake in McDonald’s by 0.9% in the third 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 in the last quarter. Bank of New York Mellon Corp increased its stake in McDonald’s by 0.9% in the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in McDonald’s by 2.3% in the fourth 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 in the last quarter. Finally, Janus Henderson Group PLC increased its stake in McDonald’s by 0.7% in the third 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 in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’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 sale, the insider now owns 8,187 shares of the company’s stock, valued at $2,383,235.70. The trade was a 11.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,504 shares of company stock worth $10,206,575 over the last three months. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Performance

McDonald’s stock opened at $321.52 on Friday. The stock has a market cap of $229.71 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $323.17. The firm’s 50-day simple moving average is $295.69 and its 200 day simple moving average is $296.25.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates 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 predict that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MCD shares. TD Securities reaffirmed a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Monday, February 10th. Truist Financial decreased their price target on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley lifted their price target on shares of McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Loop Capital reiterated a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Finally, Robert W. Baird lifted their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $323.61.

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.