Public Sector Pension Investment Board Grows Stock Position in McDonald’s Corporation (NYSE:MCD)

Public Sector Pension Investment Board grew its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 8.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,390 shares of the fast-food giant’s stock after purchasing an additional 7,918 shares during the quarter. Public Sector Pension Investment Board’s holdings in McDonald’s were worth $30,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MCD. Mascagni Wealth Management Inc. bought a new position in McDonald’s in the 4th quarter worth approximately $25,000. Abound Financial LLC bought a new position in McDonald’s in the 1st quarter worth approximately $30,000. Pinney & Scofield Inc. bought a new position in shares of McDonald’s during the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s during the 1st quarter valued at approximately $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of McDonald’s during the 1st quarter valued at approximately $31,000. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,280 shares of company stock valued at $2,215,178. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Redburn Atlantic restated a “sell” rating and issued a $260.00 price target (down from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Barclays lifted their target price on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday. Argus downgraded McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Truist Financial raised their price target on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $326.87.

McDonald’s Stock Down 0.7%

McDonald’s stock opened at $305.62 on Monday. McDonald’s Corporation has a 52 week low of $265.33 and a 52 week high of $326.32. The company has a market capitalization of $218.09 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 3.12 and a beta of 0.52. The stock has a 50-day moving average price of $298.57 and a 200 day moving average price of $304.63.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the company posted $2.97 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s payout ratio is presently 60.67%.

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.