McDonald’s Co. (NYSE:MCD) Shares Sold by Pingora Partners LLC

Pingora Partners LLC cut its stake in McDonald’s Co. (NYSE:MCD) by 1.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,142 shares of the fast-food giant’s stock after selling 42 shares during the quarter. McDonald’s makes up approximately 0.7% of Pingora Partners LLC’s portfolio, making the stock its 29th biggest holding. Pingora Partners LLC’s holdings in McDonald’s were worth $957,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MCD. Threadgill Financial LLC raised its stake in shares of McDonald’s by 99.9% during the 2nd quarter. Threadgill Financial LLC now owns 5,573 shares of the fast-food giant’s stock worth $1,420,000 after buying an additional 2,785 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of McDonald’s by 0.5% in the second quarter. Salem Investment Counselors Inc. now owns 52,407 shares of the fast-food giant’s stock valued at $13,355,000 after purchasing an additional 243 shares in the last quarter. Ables Iannone Moore & Associates Inc. grew its position in shares of McDonald’s by 2.6% in the second quarter. Ables Iannone Moore & Associates Inc. now owns 8,189 shares of the fast-food giant’s stock valued at $2,087,000 after purchasing an additional 209 shares during the last quarter. Clarius Group LLC increased its stake in shares of McDonald’s by 15.8% during the 2nd quarter. Clarius Group LLC now owns 6,672 shares of the fast-food giant’s stock worth $1,700,000 after purchasing an additional 910 shares in the last quarter. Finally, Prentice Wealth Management LLC lifted its stake in McDonald’s by 2.7% in the 2nd quarter. Prentice Wealth Management LLC now owns 2,050 shares of the fast-food giant’s stock valued at $522,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.7 %

Shares of NYSE:MCD opened at $294.50 on Wednesday. The company has a market capitalization of $211.04 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 3.89 and a beta of 0.73. The company has a 50 day moving average of $299.72 and a two-hundred day moving average of $279.33. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating 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 business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the business earned $3.19 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently declared 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 a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.40%. McDonald’s’s payout ratio is 62.16%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at $3,428,777.88. This represents a 8.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. The trade was a 44.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,099 shares of company stock valued at $10,273,786. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of analyst reports. Citigroup boosted their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI boosted their target price on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Truist Financial cut their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $319.64.

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.