Kentucky Retirement Systems cut its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,974 shares of the fast-food giant's stock after selling 4,334 shares during the period. Kentucky Retirement Systems' holdings in McDonald's were worth $15,218,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc raised its position in shares of McDonald's by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant's stock valued at $1,567,030,000 after purchasing an additional 188,888 shares during the period. Capital Research Global Investors increased its stake in McDonald's by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant's stock worth $1,542,550,000 after buying an additional 2,193,769 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in McDonald's by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant's stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the period. Capital World Investors lifted its position in shares of McDonald's by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant's stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of McDonald's by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant's stock worth $706,202,000 after acquiring an additional 2,311,721 shares during the period. Institutional investors own 70.29% of the company's stock.
McDonald's Stock Performance
McDonald's stock traded down $5.93 during mid-day trading on Friday, hitting $292.63. The company's stock had a trading volume of 4,039,432 shares, compared to its average volume of 3,509,453. McDonald's Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market cap of $209.70 billion, a PE ratio of 25.68, a P/E/G ratio of 3.95 and a beta of 0.74. The company has a 50 day moving average of $300.06 and a 200-day moving average of $277.42.
McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald's had a net margin of 31.79% and a negative return on equity of 175.42%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 EPS. On average, equities research analysts forecast that McDonald's Co. will post 11.77 EPS for the current fiscal year.
McDonald's Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald's's previous quarterly dividend of $1.67. McDonald's's payout ratio is currently 58.65%.
Wall Street Analyst Weigh In
MCD has been the topic of a number of research analyst reports. Barclays boosted their price target on McDonald's from $300.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Morgan Stanley boosted their target price on shares of McDonald's from $296.00 to $340.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. Bank of America raised their target price on shares of McDonald's from $321.00 to $324.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Robert W. Baird cut shares of McDonald's from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets raised their price objective on McDonald's from $315.00 to $335.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $319.46.
Check Out Our Latest Stock Analysis on McDonald's
Insider Activity at McDonald's
In other news, EVP Marion K. Gross sold 1,498 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares of the company's stock, valued at $14,966,996.55. The trade was a 19.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,596 shares of company stock worth $10,698,289. Company insiders own 0.23% of the company's stock.
McDonald's Company Profile
(
Free Report)
McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.
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