California Public Employees Retirement System Sells 206,003 Shares of McDonald's Co. (NYSE:MCD)

California Public Employees Retirement System reduced its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,961,775 shares of the fast-food giant's stock after selling 206,003 shares during the quarter. McDonald's comprises 0.6% of California Public Employees Retirement System's investment portfolio, making the stock its 28th biggest position. California Public Employees Retirement System owned about 0.41% of McDonald's worth $858,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of McDonald's by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock worth $20,341,391,000 after buying an additional 526,466 shares in the last quarter. Geode Capital Management LLC lifted its stake in McDonald's by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant's stock worth $4,833,510,000 after purchasing an additional 220,365 shares in the last quarter. Wellington Management Group LLP boosted its holdings in McDonald's by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant's stock valued at $4,592,892,000 after purchasing an additional 128,800 shares during the period. Norges Bank purchased a new position in shares of McDonald's during the 4th quarter valued at $2,725,190,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of McDonald's by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant's stock worth $1,682,473,000 after purchasing an additional 52,195 shares during the period. 70.29% of the stock is owned by institutional investors.

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Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the transaction, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares in the company, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,996 shares of company stock valued at $8,897,534. Corporate insiders own 0.23% of the company's stock.

McDonald's Stock Performance

MCD stock traded up $1.20 on Tuesday, reaching $313.57. The company's stock had a trading volume of 2,393,805 shares, compared to its average volume of 3,499,388. The firm has a market cap of $224.03 billion, a PE ratio of 27.53, a PEG ratio of 3.10 and a beta of 0.71. The business has a fifty day simple moving average of $302.16 and a two-hundred day simple moving average of $298.35. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

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

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.77 per share. The ex-dividend date was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.26%. McDonald's's payout ratio is 62.16%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MCD. BMO Capital Markets lifted their price objective on McDonald's from $335.00 to $340.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Loop Capital restated a "buy" rating and issued a $342.00 price objective on shares of McDonald's in a research report on Friday, January 3rd. Piper Sandler dropped their target price on shares of McDonald's from $297.00 to $290.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Citigroup increased their price target on shares of McDonald's from $336.00 to $360.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Wedbush lifted their price objective on shares of McDonald's from $320.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McDonald's presently has a consensus rating of "Moderate Buy" and an average target price of $323.61.

McDonald's Company 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.