State of New Jersey Common Pension Fund D Trims Stock Holdings in McDonald's Co. (NYSE:MCD)

State of New Jersey Common Pension Fund D trimmed its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 264,914 shares of the fast-food giant's stock after selling 1,134 shares during the period. State of New Jersey Common Pension Fund D's holdings in McDonald's were worth $76,796,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in McDonald's in the 3rd quarter worth approximately $25,000. Comprehensive Financial Planning Inc. PA purchased a new position in McDonald's in the 4th quarter worth approximately $27,000. Collier Financial purchased a new position in McDonald's in the 4th quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in McDonald's in the 3rd quarter worth approximately $31,000. Finally, Hara Capital LLC purchased a new position in McDonald's in the 3rd quarter worth approximately $44,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MCD shares. Truist Financial decreased their price target on McDonald's from $342.00 to $340.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Bank of America lifted their price target on McDonald's from $312.00 to $316.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. TD Cowen reiterated a "hold" rating and issued a $300.00 price objective on shares of McDonald's in a research report on Tuesday, October 29th. Robert W. Baird lifted their price objective on McDonald's from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Finally, Baird R W lowered McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, McDonald's currently has an average rating of "Moderate Buy" and a consensus target price of $323.61.

McDonald's Stock Performance

Shares of MCD stock traded up $0.95 during mid-day trading on Thursday, hitting $302.89. The company's stock had a trading volume of 3,018,749 shares, compared to its average volume of 3,203,582. McDonald's Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The business has a 50-day moving average price of $292.32 and a 200 day moving average price of $293.44. The stock has a market cap of $217.06 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 3.12 and a beta of 0.74.

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

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, March 3rd. McDonald's's dividend payout ratio is currently 62.16%.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 300 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 3,200 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $300.76, for a total value of $962,432.00. Following the sale, the chief marketing officer now owns 9,858 shares of the company's stock, valued at approximately $2,964,892.08. This trade represents a 24.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,106 shares of company stock worth $6,368,814 over the last quarter. 0.23% of the stock is currently owned by insiders.

McDonald's 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.