New York State Teachers Retirement System Buys 1,827 Shares of McDonald’s Corporation $MCD

New York State Teachers Retirement System raised its stake in McDonald’s Corporation (NYSE:MCD) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 564,097 shares of the fast-food giant’s stock after purchasing an additional 1,827 shares during the quarter. New York State Teachers Retirement System’s holdings in McDonald’s were worth $164,812,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MCD. Nuveen LLC bought a new position in McDonald’s in the first quarter valued at approximately $1,324,961,000. Price T Rowe Associates Inc. MD lifted its position in shares of McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after buying an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of McDonald’s by 732.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after buying an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of McDonald’s by 204.8% in the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after buying an additional 407,982 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays raised their price objective on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. KeyCorp reaffirmed an “overweight” rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Piper Sandler raised their price objective on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. TD Cowen raised their price objective on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, McDonald’s has an average rating of “Hold” and a consensus target price of $324.73.

McDonald’s Price Performance

MCD stock opened at $305.04 on Thursday. The stock has a market capitalization of $217.68 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.21 and a beta of 0.50. The business’s fifty day moving average price is $306.29 and its two-hundred day moving average price is $305.63. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.97 EPS. Research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.77 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s payout ratio is currently 60.67%.

Insider Buying and Selling

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock valued at $1,973,407 over the last 90 days. 0.25% of the stock is currently owned by insiders.

About McDonald’s

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.