McDonald’s Co. (NYSE:MCD) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in McDonald’s Co. (NYSE:MCD) by 4.8% in the third quarter, HoldingsChannel.com reports. The fund owned 607,991 shares of the fast-food giant’s stock after selling 30,390 shares during the quarter. New York State Teachers Retirement System’s holdings in McDonald’s were worth $185,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth about $38,000. Keener Financial Planning LLC grew its stake in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares during the period. Opal Wealth Advisors LLC acquired a new position in McDonald’s in the 2nd quarter valued at $59,000. Bbjs Financial Advisors LLC purchased a new position in shares of McDonald’s during the 2nd quarter worth $65,000. Finally, Macroview Investment Management LLC boosted its holdings in shares of McDonald’s by 433.3% during the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 0.6 %

MCD stock traded down $1.68 during trading on Wednesday, reaching $293.32. The stock had a trading volume of 946,067 shares, compared to its average volume of 3,504,389. The firm has a fifty day moving average price of $298.15 and a 200 day moving average price of $275.35. The company has a market capitalization of $210.41 billion, a P/E ratio of 25.68, a PEG ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year 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 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the firm posted $3.19 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is 61.94%.

Wall Street Analysts Forecast Growth

MCD has been the subject of several analyst reports. Morgan Stanley upped their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. KeyCorp increased their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Stifel Nicolaus lowered their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $318.96.

About McDonald’s

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.