New York State Teachers Retirement System Sells 17,331 Shares of McDonald's Corporation (NYSE:MCD)

New York State Teachers Retirement System decreased its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 562,270 shares of the fast-food giant's stock after selling 17,331 shares during the period. New York State Teachers Retirement System owned about 0.08% of McDonald's worth $175,636,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC boosted its holdings in shares of McDonald's by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after acquiring an additional 33 shares during the period. CVA Family Office LLC increased its position in shares of McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after purchasing an additional 33 shares during the period. Consilium Wealth Advisory LLC raised its position in shares of McDonald's by 2.5% in the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after buying an additional 33 shares in the last quarter. Northeast Financial Consultants Inc lifted its stake in McDonald's by 0.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after purchasing an additional 34 shares during the last quarter. Finally, Tealwood Asset Management Inc. lifted its position in shares of McDonald's by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant's stock worth $2,535,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the sale, the insider owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 2,817 shares of company stock worth $865,843. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Stock Performance

Shares of MCD stock traded up $0.93 during trading hours on Monday, hitting $292.48. 5,053,334 shares of the company were exchanged, compared to its average volume of 3,531,913. McDonald's Corporation has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The company has a 50 day simple moving average of $308.26 and a two-hundred day simple moving average of $302.52. The firm has a market cap of $209.13 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.04 and a beta of 0.56.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same period last year, the company posted $2.70 earnings per share. The business's quarterly revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Analysts Set New Price Targets

A number of analysts have weighed in on MCD shares. BTIG Research restated a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Citigroup lifted their target price on shares of McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Barclays upped their price target on shares of McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. BMO Capital Markets reaffirmed an "outperform" rating and set a $345.00 price target (up previously from $340.00) on shares of McDonald's in a research note on Monday, May 5th. Finally, TD Securities reiterated a "hold" rating and set a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $321.17.

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.