California State Teachers Retirement System Sells 29,562 Shares of McDonald’s Corporation $MCD

California State Teachers Retirement System lessened its holdings in McDonald’s Corporation (NYSE:MCD) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,116,171 shares of the fast-food giant’s stock after selling 29,562 shares during the period. California State Teachers Retirement System owned about 0.16% of McDonald’s worth $346,895,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of McDonald’s by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 72,351,127 shares of the fast-food giant’s stock worth $22,112,675,000 after purchasing an additional 703,458 shares during the last quarter. State Street Corp lifted its holdings in McDonald’s by 2.7% during the fourth quarter. State Street Corp now owns 35,983,997 shares of the fast-food giant’s stock worth $10,997,789,000 after acquiring an additional 959,140 shares during the period. Geode Capital Management LLC boosted its holdings in shares of McDonald’s by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 17,038,519 shares of the fast-food giant’s stock worth $5,195,965,000 after buying an additional 76,090 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in McDonald’s by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,474,749 shares of the fast-food giant’s stock valued at $2,895,768,000 after acquiring an additional 277,617 shares during the last quarter. Finally, Norges Bank bought a new position in McDonald’s during the fourth quarter valued at $2,890,438,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares of the company’s stock, valued at approximately $1,744,760.48. This trade represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the transaction, the insider directly owned 7,734 shares in the company, valued at $2,198,930.88. This represents a 40.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,348 shares of company stock worth $2,355,634 over the last quarter. Insiders own 0.26% of the company’s stock.

Key Stories Impacting McDonald’s

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: UBS maintained a Buy rating despite lowering its price target from $365 to $340, implying substantial potential upside from recent levels. The target reduction reflects a more cautious outlook, but the continued Buy rating provides a positive signal. UBS McDonald’s price target report
• Positive Sentiment: McDonald’s affirmed its quarterly dividend of $1.86 per share, payable September 16. Its long record of annual dividend increases may attract income-oriented investors, particularly with the stock trading well below its 52-week high. McDonald’s dividend and valuation analysis
• Positive Sentiment: Wall Street’s average price targets remain materially above the current share price, with some analysts viewing the pullback as a buying opportunity if McDonald’s can stabilize sales and restore growth. McDonald’s near 52-week low analysis

McDonald’s Price Performance

Shares of NYSE MCD opened at $272.82 on Wednesday. The firm has a 50-day moving average of $275.60 and a 200 day moving average of $298.42. McDonald’s Corporation has a 1 year low of $260.96 and a 1 year high of $341.75. The stock has a market cap of $193.84 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.09. The firm had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.47 billion. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.McDonald’s’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.67 EPS. Research analysts expect that McDonald’s Corporation will post 12.86 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 1st. McDonald’s’s dividend payout ratio is 61.34%.

Analyst Ratings Changes

MCD has been the topic of several recent research reports. Tigress Financial upped their price objective on shares of McDonald’s from $385.00 to $390.00 and gave the company a “buy” rating in a report on Friday, July 17th. Evercore set a $320.00 price target on shares of McDonald’s in a report on Thursday, July 23rd. Sanford C. Bernstein reissued a “market perform” rating on shares of McDonald’s in a report on Monday, June 22nd. Barclays decreased their price target on shares of McDonald’s from $380.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft set a $325.00 price objective on shares of McDonald’s in a research report on Thursday, July 9th. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $333.32.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.