Texas Permanent School Fund Corp Has $14.65 Million Stake in McDonald’s Corporation $MCD

Texas Permanent School Fund Corp lowered its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 35.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,140 shares of the fast-food giant’s stock after selling 27,724 shares during the quarter. Texas Permanent School Fund Corp’s holdings in McDonald’s were worth $14,649,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Decker Retirement Planning Inc. raised its holdings in McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after buying an additional 50 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s in the second quarter valued at approximately $25,000. HFM Investment Advisors LLC bought a new stake in shares of McDonald’s during the first quarter worth $26,000. Nova Wealth Management Inc. acquired a new stake in shares of McDonald’s during the first quarter worth $26,000. Finally, GFG Capital LLC acquired a new stake in shares of McDonald’s during the second quarter worth $29,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MCD shares. Piper Sandler reaffirmed a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a research note on Wednesday, October 22nd. Truist Financial cut their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Robert W. Baird increased their price objective on McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Wells Fargo & Company lifted their target price on McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, BTIG Research restated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Eleven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $324.57.

McDonald’s Stock Performance

NYSE:MCD opened at $316.84 on Monday. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The company has a market cap of $225.64 billion, a P/E ratio of 27.03, a P/E/G ratio of 3.52 and a beta of 0.52. The stock’s 50-day simple moving average is $304.98 and its 200 day simple moving average is $303.64.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.23 earnings per share. As a group, equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio is presently 63.48%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 3,195 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $305.82, for a total transaction of $977,094.90. Following the transaction, the insider directly owned 6,088 shares in the company, valued at $1,861,832.16. The trade was a 34.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ian Frederick Borden sold 17,134 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer owned 26,353 shares of the company’s stock, valued at $8,169,430. This trade represents a 39.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 40,030 shares of company stock valued at $12,240,570. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s 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.