Public Employees Retirement System of Ohio Decreases Position in McDonald's Corporation $MCD

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in McDonald's Corporation by 1.7% in the second quarter, holding 292,604 shares valued at approximately $85.49 million after selling 5,020 shares.
• McDonald's reported earnings per share of $3.19 for the last quarter, exceeding analysts' estimates of $3.15, along with revenues of $6.84 billion, indicating a year-over-year revenue increase of 5.4%.
• The company announced a quarterly dividend of $1.77 per share with a yield of 2.3%, marking an annualized dividend payout of $7.08.

Public Employees Retirement System of Ohio reduced its position in McDonald's Corporation (NYSE:MCD - Free Report) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 292,604 shares of the fast-food giant's stock after selling 5,020 shares during the period. Public Employees Retirement System of Ohio's holdings in McDonald's were worth $85,490,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. bought a new position in shares of McDonald's during the fourth quarter valued at $25,000. HFM Investment Advisors LLC purchased a new stake in shares of McDonald's during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in McDonald's during the 1st quarter valued at $26,000. Abound Financial LLC bought a new position in shares of McDonald's during the 1st quarter valued at $30,000. Finally, Copia Wealth Management purchased a new position in shares of McDonald's in the 4th quarter worth $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald's Stock Performance

NYSE:MCD opened at $303.12 on Wednesday. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock's fifty day moving average is $306.16 and its 200 day moving average is $306.27. The firm has a market capitalization of $216.31 billion, a PE ratio of 25.97, a PEG ratio of 3.09 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.97 EPS. Equities analysts forecast that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given 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 yield of 2.3%. McDonald's's dividend payout ratio (DPR) is 60.67%.

Insider Buying and Selling at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company's stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction on Wednesday, August 6th. The shares were 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 owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock worth $2,273,407 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MCD shares. Evercore ISI boosted their price target on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Redburn Atlantic restated a "sell" rating and set a $260.00 target price (down from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their target price on McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley raised their price objective 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. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $325.86.

About McDonald's

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.

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Corporation (NYSE:MCD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.