Kentucky Retirement Systems Sells 777 Shares of McDonald’s Co. (NYSE:MCD)

Kentucky Retirement Systems decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,308 shares of the fast-food giant’s stock after selling 777 shares during the quarter. Kentucky Retirement Systems’ holdings in McDonald’s were worth $13,840,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s during the first quarter valued at $28,000. Clear Investment Research LLC purchased a new stake in McDonald’s in the 4th quarter valued at about $38,000. Kings Path Partners LLC bought a new position in McDonald’s in the 2nd quarter worth about $38,000. Accent Capital Management LLC bought a new position in McDonald’s in the 4th quarter worth about $44,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of McDonald’s during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.6 %

McDonald’s stock opened at $292.02 on Thursday. The firm has a market cap of $210.45 billion, a PE ratio of 24.79, a P/E/G ratio of 3.88 and a beta of 0.72. The stock’s 50 day simple moving average is $275.66 and its two-hundred day simple moving average is $270.68. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the company posted $3.17 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock worth $1,689,073 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MCD shares. Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Tigress Financial raised their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley lowered their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Jefferies Financial Group lifted their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Guggenheim boosted their price target on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $306.11.

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.