Maryland State Retirement & Pension System Grows Stake in McDonald's Corporation $MCD

Maryland State Retirement & Pension System grew its position in McDonald's Corporation (NYSE:MCD - Free Report) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,745 shares of the fast-food giant's stock after purchasing an additional 1,049 shares during the quarter. Maryland State Retirement & Pension System's holdings in McDonald's were worth $10,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of McDonald's by 0.3% during the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant's stock worth $21,993,689,000 after buying an additional 239,753 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of McDonald's by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock worth $2,917,993,000 after buying an additional 1,344,954 shares during the period. Northern Trust Corp lifted its stake in shares of McDonald's by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock worth $2,800,447,000 after buying an additional 97,966 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of McDonald's by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant's stock worth $1,606,354,000 after buying an additional 123,454 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of McDonald's by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock worth $1,556,485,000 after buying an additional 815,768 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McDonald's

In related news, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company's stock, valued at approximately $30,690. This represents a 90.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock worth $1,973,407 over the last three months. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCD. Morgan Stanley boosted their target price on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Evercore ISI boosted their target price on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Truist Financial boosted their target price on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Melius began coverage on shares of McDonald's in a research report on Monday, July 14th. They set a "sell" rating and a $250.00 target price for the company. Finally, Barclays boosted their target price on shares of McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, McDonald's currently has a consensus rating of "Hold" and a consensus target price of $324.73.

McDonald's Stock Down 0.6%

MCD stock opened at $294.44 on Thursday. The stock has a market capitalization of $210.11 billion, a P/E ratio of 25.23, a P/E/G ratio of 3.02 and a beta of 0.50. The firm has a 50-day simple moving average of $306.56 and a 200-day simple moving average of $305.94. McDonald's Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) 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. The business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The company's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.97 earnings per share. On average, analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald's's payout ratio is currently 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.

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