Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in McDonald’s Corporation $MCD

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 7.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 175,366 shares of the fast-food giant’s stock after buying an additional 11,484 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in McDonald’s were worth $51,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nuveen LLC acquired a new position in McDonald’s during the 1st quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD lifted its position in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after purchasing an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in McDonald’s by 732.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after purchasing an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in McDonald’s by 204.8% in the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after buying an additional 407,982 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCD has been the topic of a number of research analyst reports. KeyCorp reaffirmed an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a report on Monday, October 20th. Morgan Stanley set a $335.00 price objective on McDonald’s in a research note on Friday, October 17th. Barclays lowered their target price on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Finally, Evercore ISI lifted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $323.91.

McDonald’s Stock Performance

Shares of MCD opened at $306.74 on Friday. The firm has a fifty day moving average of $303.37 and a 200-day moving average of $304.71. The company has a market cap of $218.45 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the business earned $3.23 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $1.86 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s dividend payout ratio is currently 63.48%.

Insider Activity at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manuel Jm Steijaert sold 13,134 shares of McDonald’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the sale, the executive vice president owned 4,606 shares in the company, valued at approximately $1,383,734.52. This represents a 74.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,134 shares of company stock worth $4,570,716 in the last three months. 0.25% of the stock is owned by company insiders.

About McDonald’s

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.