Maryland State Retirement & Pension System Has $14.31 Million Stake in McDonald’s Co. (NYSE:MCD)

Maryland State Retirement & Pension System cut its holdings in McDonald’s Co. (NYSE:MCD) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,168 shares of the fast-food giant’s stock after selling 897 shares during the period. Maryland State Retirement & Pension System’s holdings in McDonald’s were worth $14,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Aigen Investment Management LP acquired a new stake in shares of McDonald’s during the 4th quarter worth approximately $4,286,000. Strait & Sound Wealth Management LLC acquired a new stake in McDonald’s in the fourth quarter worth $211,000. Vestor Capital LLC increased its stake in McDonald’s by 40.4% in the fourth quarter. Vestor Capital LLC now owns 74,427 shares of the fast-food giant’s stock valued at $22,068,000 after purchasing an additional 21,413 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of McDonald’s by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock valued at $350,157,000 after purchasing an additional 15,863 shares during the period. Finally, Keystone Financial Group boosted its position in shares of McDonald’s by 5.9% during the 4th quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock worth $2,667,000 after purchasing an additional 499 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred 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 directly owns 12,583 shares in the company, valued at $3,632,712.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Insiders sold 4,793 shares of company stock valued at $1,260,106 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

NYSE MCD traded up $0.80 on Friday, reaching $288.66. 2,528,549 shares of the company’s stock traded hands, compared to its average volume of 3,519,216. The firm has a market cap of $208.03 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 3.58 and a beta of 0.71. The stock has a 50 day moving average price of $265.04 and a 200-day moving average price of $271.00. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $3.17 EPS. As a group, equities research analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s payout ratio is currently 56.71%.

Wall Street Analyst Weigh In

MCD has been the topic of several recent research reports. BMO Capital Markets cut their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Truist Financial lowered their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Finally, Citigroup lowered their target price on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $303.71.

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.