Teachers Retirement System of The State of Kentucky Sells 3,813 Shares of McDonald’s Co. (NYSE:MCD)

Teachers Retirement System of The State of Kentucky lowered its position in shares of McDonald’s Co. (NYSE:MCDFree Report) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,967 shares of the fast-food giant’s stock after selling 3,813 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in McDonald’s were worth $25,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Steigerwald Gordon & Koch Inc. lifted its position in McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares in the last quarter. Riversedge Advisors LLC grew its stake in McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC raised its stake in shares of McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares in the last quarter. Clear Creek Financial Management LLC boosted its holdings in shares of McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after buying an additional 35 shares during the last quarter. Finally, GDS Wealth Management grew its stake in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after buying an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. This trade represents a 49.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,099 shares of company stock valued at $10,273,786 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MCD shares. JPMorgan Chase & Co. lifted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group raised their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. The Goldman Sachs Group boosted their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Wells Fargo & Company lifted their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Barclays raised their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.64.

Get Our Latest Research Report on McDonald’s

McDonald’s Stock Down 0.2 %

McDonald’s stock opened at $300.76 on Wednesday. The stock has a market cap of $215.53 billion, a PE ratio of 26.41, a P/E/G ratio of 4.01 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The business’s 50-day moving average price is $299.37 and its two-hundred day moving average price is $280.30.

McDonald’s (NYSE:MCDGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the prior year, the company earned $3.19 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 62.16%.

McDonald’s Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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