Treasurer of the State of North Carolina Buys 1,470 Shares of McDonald’s Co. (NYSE:MCD)

Treasurer of the State of North Carolina grew its holdings in McDonald’s Co. (NYSE:MCD) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 325,499 shares of the fast-food giant’s stock after acquiring an additional 1,470 shares during the quarter. Treasurer of the State of North Carolina’s holdings in McDonald’s were worth $94,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mattern Capital Management LLC grew its holdings in McDonald’s by 2.0% during the fourth quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock worth $8,729,000 after purchasing an additional 579 shares during the period. Bell Bank grew its holdings in shares of McDonald’s by 3.0% during the 4th quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock worth $3,681,000 after purchasing an additional 371 shares in the last quarter. YANKCOM Partnership acquired a new stake in shares of McDonald’s during the 4th quarter worth approximately $1,628,000. Integral Investment Advisors Inc. lifted its stake in McDonald’s by 2.6% in the 4th quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant’s stock valued at $1,888,000 after purchasing an additional 164 shares during the last quarter. Finally, PFW Advisors LLC bought a new position in shares of McDonald’s during the fourth quarter valued at $2,471,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MCD. BMO Capital Markets upped their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Citigroup cut their price objective on McDonald’s from $360.00 to $353.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Truist Financial cut their target price on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Loop Capital restated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Finally, TD Securities reaffirmed a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $322.87.

McDonald’s Stock Performance

NYSE MCD opened at $304.01 on Thursday. The stock has a market capitalization of $217.20 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. The stock has a fifty day moving average of $305.38 and a 200-day moving average of $298.93. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Monday, March 3rd. McDonald’s’s payout ratio is currently 62.16%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,099 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.60, for a total value of $334,755.40. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $475,176. The trade was a 41.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,497 shares of company stock valued at $8,461,400 over the last 90 days. 0.23% of the stock is currently owned by insiders.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.