Teachers Retirement System of The State of Kentucky Cuts Position in McDonald’s Co. (NYSE:MCD)

Teachers Retirement System of The State of Kentucky reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 4.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 86,780 shares of the fast-food giant’s stock after selling 4,225 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in McDonald’s were worth $22,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Gallagher Fiduciary Advisors LLC raised its holdings in McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after buying an additional 5,609,736 shares during the period. Capital Research Global Investors raised its stake in shares of McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Swedbank AB bought a new stake in shares of McDonald’s in the 1st quarter worth about $348,206,000. Capital World Investors grew its holdings in McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of McDonald’s by 15.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after buying an additional 987,099 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ian Frederick Borden sold 5,939 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the completion of the sale, the chief financial officer now directly owns 20,403 shares in the company, valued at approximately $6,121,716.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,751 shares of company stock valued at $9,493,973. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Down 0.5 %

Shares of McDonald’s stock opened at $302.98 on Wednesday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $306.96. The business has a fifty day simple moving average of $283.58 and a 200 day simple moving average of $271.26. The stock has a market cap of $218.35 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.17 EPS. Analysts expect that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed 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 2.34%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Ratings Changes

MCD has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Robert W. Baird lifted their price target on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. increased their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America decreased their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, TD Cowen restated a “hold” rating and set a $280.00 price target on shares of McDonald’s in a research note on Monday, September 23rd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $308.22.

McDonald’s 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.