Pinnacle Holdings Invests in McDonald's Amidst Quarterly Earnings Beat

Pinnacle Holdings LLC has invested in McDonald's Corporation (NYSE:MCD) by acquiring 10,447 shares of stock valued at approximately $2.824 million. This new stake was disclosed to the Securities and Exchange Commission (SEC) in its most recent filing.

Other hedge funds have also made changes to their positions in McDonald's during the fourth quarter. Hamilton Point Investment Advisors LLC increased its stake by 1.8%, while Encompass More Asset Management boosted its position by 1.5%. Richmond Investment Services LLC and Papamarkou Wellner Asset Management inc. also grew their stakes, with Papamarkou increasing its holding by 0.4%.

In related news, McDonald's reported quarterly earnings of $3.38 per share, beating analysts' estimates of $3.32. The company's revenue for the quarter was up 3.7% year-over-year to $7.10 billion. Analysts expect McDonald's to post $12.88 EPS for the current fiscal year.