Maryland State Retirement & Pension System Increases Position in McDonald’s Corporation $MCD

Maryland State Retirement & Pension System boosted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 3.1% in the 2nd quarter, Holdings Channel reports. The fund owned 34,745 shares of the fast-food giant’s stock after acquiring an additional 1,049 shares during the quarter. Maryland State Retirement & Pension System’s holdings in McDonald’s were worth $10,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First American Trust FSB boosted its holdings in McDonald’s by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Banque Transatlantique SA boosted its holdings in McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after purchasing an additional 91,313 shares during the last quarter. Hamilton Capital LLC lifted its holdings in shares of McDonald’s by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after acquiring an additional 819 shares during the last quarter. Red Door Wealth Management LLC lifted its holdings in shares of McDonald’s by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after acquiring an additional 109 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of McDonald’s by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after acquiring an additional 18,393 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Down 0.6%

Shares of NYSE:MCD opened at $294.44 on Thursday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The company’s 50 day moving average is $306.56 and its two-hundred day moving average is $305.94. The company has a market cap of $210.11 billion, a PE ratio of 25.23, a P/E/G ratio of 3.02 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm posted $2.97 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. TD Cowen upped their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Truist Financial upped their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Piper Sandler upped their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Barclays upped their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $324.73.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,402 shares of company stock valued at $1,973,407. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Company 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.