Kentucky Retirement Systems Insurance Trust Fund Increases Holdings in McDonald’s Co. (NYSE:MCD)

Kentucky Retirement Systems Insurance Trust Fund raised its stake in McDonald’s Co. (NYSE:MCD) by 65.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,237 shares of the fast-food giant’s stock after purchasing an additional 13,998 shares during the quarter. McDonald’s comprises about 0.9% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 17th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in McDonald’s were worth $10,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kennebec Savings Bank purchased a new position in McDonald’s in the 3rd quarter valued at about $1,394,000. YANKCOM Partnership acquired a new stake in McDonald’s during the 4th quarter valued at approximately $1,628,000. Charles Schwab Investment Management Inc. raised its position in shares of McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after purchasing an additional 49,106 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in shares of McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after buying an additional 2,997 shares during the last quarter. Finally, PFW Advisors LLC purchased a new position in shares of McDonald’s during the 4th quarter valued at approximately $2,471,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. The trade was a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,906 shares of company stock valued at $5,406,382 in the last three months. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Morgan Stanley lifted their price target on McDonald’s from $336.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. TD Cowen restated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Piper Sandler reduced their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, TD Securities reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Stock Performance

NYSE MCD opened at $308.59 on Tuesday. The firm’s 50 day moving average price is $291.98 and its two-hundred day moving average price is $292.90. The stock has a market cap of $221.14 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 4.08 and a beta of 0.74. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. On average, research analysts forecast that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, March 3rd. McDonald’s’s payout ratio is currently 62.16%.

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.