Public Employees Retirement Association of Colorado reduced its stake in shares of McDonald’s Corporation (NYSE:MCD) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,949 shares of the fast-food giant’s stock after selling 10,248 shares during the period. Public Employees Retirement Association of Colorado’s holdings in McDonald’s Corporation were worth $20,083,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in McDonald’s Corporation during the fourth quarter valued at about $960,307,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in McDonald’s Corporation during the fourth quarter valued at approximately $112,315,000. AMF Pensionsforsakring AB increased its position in McDonald’s Corporation by 294.5% in the fourth quarter. AMF Pensionsforsakring AB now owns 734,852 shares of the fast-food giant’s stock valued at $89,446,000 after buying an additional 548,572 shares during the last quarter. Levin Capital Strategies L.P. increased its position in McDonald’s Corporation by 102.4% in the fourth quarter. Levin Capital Strategies L.P. now owns 978,968 shares of the fast-food giant’s stock valued at $119,160,000 after buying an additional 495,256 shares during the last quarter. Finally, Congress Asset Management Co. MA bought a new stake in shares of McDonald’s Corporation during the fourth quarter worth about $39,731,000. Hedge funds and other institutional investors own 67.52% of the company’s stock.
Shares of McDonald’s Corporation (NYSE MCD) opened at 153.82 on Monday. The stock has a market cap of $125.37 billion, a PE ratio of 25.18 and a beta of 0.70. McDonald’s Corporation has a one year low of $110.33 and a one year high of $159.98. The company has a 50-day moving average of $154.15 and a 200 day moving average of $139.07.
McDonald’s Corporation (NYSE:MCD) last released its earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.08. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.96 billion. McDonald’s Corporation had a net margin of 21.00% and a negative return on equity of 266.50%. McDonald’s Corporation’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 EPS. On average, analysts predict that McDonald’s Corporation will post $6.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, August 30th. McDonald’s Corporation’s dividend payout ratio is presently 61.54%.
A number of equities research analysts recently issued reports on MCD shares. Nomura set a $172.00 price target on McDonald’s Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $175.00 target price (up previously from $165.00) on shares of McDonald’s Corporation in a report on Monday, June 26th. Royal Bank Of Canada set a $170.00 price target on McDonald’s Corporation and gave the company a “buy” rating in a research note on Thursday, June 22nd. Cleveland Research upgraded McDonald’s Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 11th. Finally, Goldman Sachs Group, Inc. (The) set a $174.00 target price on McDonald’s Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Thirteen research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. McDonald’s Corporation has an average rating of “Buy” and an average target price of $162.16.
In related news, EVP Jerome N. Krulewitch sold 11,755 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $158.38, for a total transaction of $1,861,756.90. Following the sale, the executive vice president now directly owns 11,755 shares of the company’s stock, valued at $1,861,756.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin M. Ozan sold 25,322 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total transaction of $4,013,537.00. Following the sale, the chief financial officer now directly owns 24,039 shares in the company, valued at $3,810,181.50. The disclosure for this sale can be found here. Insiders sold a total of 54,363 shares of company stock worth $8,615,125 over the last ninety days. Insiders own 0.24% of the company’s stock.
McDonald’s Corporation Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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