Employees Retirement System of Texas Purchases New Position in McDonald’s Corporation $MCD

Employees Retirement System of Texas purchased a new position in shares of McDonald’s Corporation (NYSE:MCD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,389 shares of the fast-food giant’s stock, valued at approximately $1,282,000.

Several other institutional investors also recently bought and sold shares of MCD. Nova Wealth Management Inc. acquired a new stake in McDonald’s in the 1st quarter valued at $26,000. HFM Investment Advisors LLC acquired a new position in McDonald’s during the first quarter worth $26,000. Decker Retirement Planning Inc. lifted its holdings in McDonald’s by 142.9% during the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of McDonald’s in the second quarter valued at about $25,000. Finally, GFG Capital LLC acquired a new stake in shares of McDonald’s in the second quarter valued at about $29,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. This trade represents a 74.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,463 shares of company stock valued at $10,549,351 over the last three months. 0.25% of the stock is currently owned by company insiders.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $312.43 on Friday. The business’s 50 day moving average price is $303.55 and its 200 day moving average price is $304.20. The company has a market cap of $222.50 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the business earned $3.23 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is presently 63.48%.

Wall Street Analyst Weigh In

MCD has been the subject of several research analyst reports. Guggenheim upped their price target on shares of McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Evercore ISI raised their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. KeyCorp reaffirmed an “overweight” rating and issued a $335.00 price target on shares of McDonald’s in a research note on Monday, October 20th. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research report on Friday, October 24th. Finally, Citigroup decreased their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $324.57.

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.