Kentucky Retirement Systems Insurance Trust Fund Has $6.47 Million Holdings in McDonald's Co. (NYSE:MCD)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,239 shares of the fast-food giant's stock after selling 2,006 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in McDonald's were worth $6,467,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its holdings in McDonald's by 10.4% in the first quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant's stock worth $848,000 after acquiring an additional 282 shares during the last quarter. Strait & Sound Wealth Management LLC raised its position in shares of McDonald's by 9.8% during the 1st quarter. Strait & Sound Wealth Management LLC now owns 797 shares of the fast-food giant's stock worth $214,000 after purchasing an additional 71 shares during the period. Catalytic Wealth RIA LLC lifted its holdings in shares of McDonald's by 3.9% in the 1st quarter. Catalytic Wealth RIA LLC now owns 4,470 shares of the fast-food giant's stock worth $1,260,000 after purchasing an additional 168 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in McDonald's by 9.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,653 shares of the fast-food giant's stock valued at $466,000 after purchasing an additional 140 shares during the period. Finally, Trustmark National Bank Trust Department grew its stake in McDonald's by 6.7% during the 1st quarter. Trustmark National Bank Trust Department now owns 15,881 shares of the fast-food giant's stock worth $4,478,000 after buying an additional 995 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald's Stock Down 2.0 %

Shares of MCD stock traded down $5.93 during trading hours on Friday, reaching $292.63. 4,039,432 shares of the stock traded hands, compared to its average volume of 3,509,453. The firm has a market capitalization of $209.70 billion, a PE ratio of 25.68, a PEG ratio of 3.95 and a beta of 0.74. McDonald's Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business has a fifty day moving average price of $300.06 and a 200 day moving average price of $277.42.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald's had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the business earned $3.19 EPS. The company's revenue was up 2.7% on a year-over-year basis. Research analysts expect that McDonald's Co. will post 11.77 earnings per share for the current fiscal year.

McDonald's Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 2.42%. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald's's previous quarterly dividend of $1.67. McDonald's's payout ratio is 58.65%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCD. UBS Group boosted their price target on shares of McDonald's from $305.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Truist Financial decreased their target price on shares of McDonald's from $350.00 to $342.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. KeyCorp lifted their price target on McDonald's from $305.00 to $330.00 and gave the company an "overweight" rating in a report on Monday, October 7th. The Goldman Sachs Group increased their price objective on McDonald's from $284.00 to $325.00 and gave the stock a "neutral" rating in a report on Tuesday, September 24th. Finally, Tigress Financial lifted their target price on McDonald's from $355.00 to $360.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $319.46.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald's stock in a transaction dated 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 in the company, valued at $14,966,996.55. The trade was a 19.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 in the last 90 days. Company insiders own 0.23% of the company's stock.

About McDonald's

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.