VIRGINIA RETIREMENT SYSTEMS ET Al Sells 38,300 Shares of McDonald’s Corporation $MCD

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in shares of McDonald’s Corporation (NYSE:MCD) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 161,200 shares of the fast-food giant’s stock after selling 38,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in McDonald’s were worth $48,987,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new stake in McDonald’s during the 1st quarter valued at $26,000. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s during the first quarter valued at $26,000. Decker Retirement Planning Inc. raised its holdings in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in McDonald’s in the second quarter worth about $25,000. Finally, GFG Capital LLC bought a new position in McDonald’s during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at $8,169,430. This represents a 39.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares in the company, valued at $1,383,734.52. This represents a 74.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 42,516 shares of company stock worth $13,036,090. 0.25% of the stock is owned by company insiders.

McDonald’s Price Performance

Shares of MCD stock opened at $307.95 on Wednesday. The stock’s fifty day moving average price is $308.04 and its 200 day moving average price is $304.19. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The company has a market cap of $219.31 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 3.43 and a beta of 0.52.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the business posted $3.23 EPS. McDonald’s’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research reports. Truist Financial lowered their price target on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Guggenheim upped their target price on McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Royal Bank Of Canada started coverage on McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target on the stock. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Finally, Mizuho raised McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Eleven analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $324.57.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.