Oregon Public Employees Retirement Fund Boosts Stock Position in McDonald’s Corporation $MCD

Oregon Public Employees Retirement Fund raised its holdings in McDonald’s Corporation (NYSE:MCD) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,678 shares of the fast-food giant’s stock after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund’s holdings in McDonald’s were worth $18,020,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MCD. HFM Investment Advisors LLC acquired a new stake in McDonald’s in the first quarter valued at $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s during the 1st quarter worth $26,000. GFG Capital LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth about $29,000. Abound Financial LLC acquired a new stake in shares of McDonald’s in the 1st quarter valued at about $30,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s during the first quarter worth about $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 1.1%

Shares of NYSE MCD opened at $297.07 on Monday. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The company has a market cap of $211.99 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.12 and a beta of 0.50. The stock’s 50 day simple moving average is $306.31 and its 200 day simple moving average is $305.69.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company earned $2.97 earnings per share. As a group, equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is presently 60.67%.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,402 shares of company stock worth $1,973,407 in the last quarter. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler lifted their price target on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Guggenheim reduced their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday. Evercore ISI lifted their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Bank of America lowered their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Finally, Morgan Stanley raised their price objective on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s currently has an average rating of “Hold” and a consensus price target of $325.18.

McDonald’s Company 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.