State of Alaska Department of Revenue Raises Stock Position in McDonald’s Co. (NYSE:MCD)

State of Alaska Department of Revenue grew its holdings in McDonald’s Co. (NYSE:MCD) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 85,866 shares of the fast-food giant’s stock after acquiring an additional 2,040 shares during the period. State of Alaska Department of Revenue’s holdings in McDonald’s were worth $26,146,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Valley National Advisers Inc. raised its stake in McDonald’s by 19.3% during the 3rd quarter. Valley National Advisers Inc. now owns 12,548 shares of the fast-food giant’s stock valued at $3,820,000 after purchasing an additional 2,028 shares during the period. Financial Management Professionals Inc. grew its holdings in McDonald’s by 12.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 475 shares of the fast-food giant’s stock valued at $145,000 after buying an additional 51 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of McDonald’s by 5.1% during the third quarter. Capital Advisors Ltd. LLC now owns 1,582 shares of the fast-food giant’s stock valued at $482,000 after buying an additional 77 shares during the last quarter. TCV Trust & Wealth Management Inc. lifted its holdings in shares of McDonald’s by 1.8% in the third quarter. TCV Trust & Wealth Management Inc. now owns 14,935 shares of the fast-food giant’s stock worth $4,548,000 after buying an additional 270 shares in the last quarter. Finally, Smith Salley Wealth Management boosted its position in shares of McDonald’s by 10.4% during the third quarter. Smith Salley Wealth Management now owns 8,730 shares of the fast-food giant’s stock worth $2,658,000 after acquiring an additional 824 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock worth $10,256,818 in the last ninety days. 0.23% of the stock is owned by insiders.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $292.61 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a market capitalization of $210.88 billion, a PE ratio of 24.84, a P/E/G ratio of 4.13 and a beta of 0.73. The company has a 50-day simple moving average of $297.78 and a two-hundred day simple moving average of $274.91.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the company earned $3.17 EPS. The company’s revenue was down .1% on a year-over-year basis. On average, equities analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Analyst Upgrades and Downgrades

Several analysts have commented on MCD shares. Truist Financial boosted their price target on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research note on Wednesday. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and lowered their target price for the company from $290.00 to $285.00 in a research report on Wednesday. Finally, TD Cowen restated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $318.22.

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.