Teachers Retirement System of The State of Kentucky Has $25.27 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Teachers Retirement System of The State of Kentucky cut its position in McDonald’s Co. (NYSE:MCD) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of McDonald’s by 1.4% during the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after purchasing an additional 220,365 shares during the period. Wellington Management Group LLP increased its stake in McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after purchasing an additional 128,800 shares in the last quarter. Legal & General Group Plc raised its holdings in McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after buying an additional 354,196 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MCD. JPMorgan Chase & Co. lifted their price target on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. 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 report on Monday, October 21st. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group upped their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.64.

McDonald’s Stock Down 0.2 %

McDonald’s stock opened at $300.76 on Wednesday. The firm has a fifty day simple moving average of $299.37 and a two-hundred day simple moving average of $280.30. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market capitalization 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 (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 EPS. As a group, equities analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now owns 11,484 shares of the company’s stock, valued at $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,099 shares of company stock worth $10,273,786. 0.23% of the stock is currently owned by company insiders.

About McDonald’s

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.