Pinnacle Bancorp Inc. Sells 54 Shares of McDonald’s Co. (NYSE:MCD)

Pinnacle Bancorp Inc. lowered its stake in McDonald’s Co. (NYSE:MCD) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,918 shares of the fast-food giant’s stock after selling 54 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in McDonald’s were worth $1,802,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Steigerwald Gordon & Koch Inc. grew its position in McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares during the last quarter. Founders Financial Alliance LLC grew its holdings in shares of McDonald’s by 0.7% during the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after buying an additional 36 shares during the last quarter. 9258 Wealth Management LLC increased its position in shares of McDonald’s by 1.3% during the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after acquiring an additional 37 shares in the last quarter. Cohen Investment Advisors LLC raised its holdings in McDonald’s by 0.4% in the 3rd quarter. Cohen Investment Advisors LLC now owns 10,049 shares of the fast-food giant’s stock worth $3,060,000 after acquiring an additional 37 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its position in McDonald’s by 1.3% in the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock valued at $821,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $304.04 on Friday. The company’s fifty day moving average price is $288.93 and its 200 day moving average price is $272.20. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96. The stock has a market capitalization of $218.10 billion, a P/E ratio of 26.60, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the firm earned $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The company 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 dividend of $1.77 per share. 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 2.33%. McDonald’s’s payout ratio is presently 58.44%.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday. TD Cowen reiterated a “hold” rating and set a $280.00 target price on shares of McDonald’s in a research report on Monday, September 23rd. Truist Financial lowered their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.50.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,751 shares of company stock worth $9,493,973. Company insiders own 0.23% of the company’s stock.

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.