New Mexico Educational Retirement Board Increases Stake in McDonald’s Co. (NYSE:MCD)

New Mexico Educational Retirement Board increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 14.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,419 shares of the fast-food giant’s stock after buying an additional 5,400 shares during the period. New Mexico Educational Retirement Board’s holdings in McDonald’s were worth $12,242,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC boosted its holdings in shares of McDonald’s by 31.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 269 shares of the fast-food giant’s stock valued at $76,000 after buying an additional 65 shares in the last quarter. Founders Financial Securities LLC boosted its stake in McDonald’s by 32.6% during the 1st quarter. Founders Financial Securities LLC now owns 4,555 shares of the fast-food giant’s stock worth $1,284,000 after purchasing an additional 1,119 shares during the period. Guidance Capital Inc. boosted its stake in McDonald’s by 18.9% during the 1st quarter. Guidance Capital Inc. now owns 2,975 shares of the fast-food giant’s stock worth $792,000 after purchasing an additional 472 shares during the period. Atticus Wealth Management LLC lifted its stake in shares of McDonald’s by 5.6% in the 1st quarter. Atticus Wealth Management LLC now owns 3,424 shares of the fast-food giant’s stock worth $965,000 after acquiring an additional 181 shares during the period. Finally, Foguth Wealth Management LLC. acquired a new stake in shares of McDonald’s in the 1st quarter worth $1,768,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MCD. Argus restated a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. Wedbush reduced their target price on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Evercore ISI reiterated an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a report on Wednesday, March 27th. Robert W. Baird dropped their target price on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, KeyCorp dropped their target price on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $315.14.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the sale, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the sale, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Insiders sold 4,095 shares of company stock valued at $1,100,625 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

McDonald’s Stock Performance

Shares of MCD traded down $3.33 during midday trading on Friday, hitting $254.84. 8,958,712 shares of the stock traded hands, compared to its average volume of 3,556,529. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39. The firm has a market capitalization of $183.66 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71. The business’s 50 day moving average price is $263.31 and its two-hundred day moving average price is $279.19.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $2.63 EPS. As a group, equities research analysts forecast that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s payout ratio is currently 56.71%.

McDonald’s Company 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.