McDonald’s Corporation $MCD Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of McDonald’s Corporation (NYSE:MCD) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,432 shares of the fast-food giant’s stock after selling 561 shares during the quarter. Retirement Systems of Alabama’s holdings in McDonald’s were worth $44,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HFM Investment Advisors LLC purchased a new position in McDonald’s in the 1st quarter valued at $26,000. Nova Wealth Management Inc. purchased a new position in McDonald’s during the 1st quarter worth $26,000. GFG Capital LLC acquired a new stake in shares of McDonald’s in the 2nd quarter worth $29,000. Abound Financial LLC purchased a new stake in shares of McDonald’s in the first quarter valued at about $30,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of McDonald’s during the first quarter worth about $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.0%

NYSE:MCD opened at $302.25 on Friday. The company has a market capitalization of $215.69 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The firm has a 50-day moving average price of $306.00 and a two-hundred day moving average price of $305.63. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.

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

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.5%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Bank of America cut their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Melius started coverage on McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 price target for the company. KeyCorp reaffirmed an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a report on Monday, October 20th. Finally, Barclays increased their price objective on McDonald’s from $360.00 to $362.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s presently has an average rating of “Hold” and a consensus target price of $323.43.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. This represents a 90.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,487 shares of company stock valued at $1,395,970 over the last three months. 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.