Public Sector Pension Investment Board Has $30.42 Million Holdings in McDonald's Corporation (NYSE:MCD)

Key Points

• The Public Sector Pension Investment Board increased its holdings in McDonald's Corporation by 8.8% during the first quarter, bringing its total shares to 97,390, valued at approximately $30.4 million.
• Multiple hedge funds have established new positions in McDonald's, indicating that 70.29% of the stock is now owned by institutional investors.
• McDonald’s recently announced a quarterly dividend of $1.77 per share, which will be paid on September 16, reflecting an annualized yield of 2.3%.

Public Sector Pension Investment Board increased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 8.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,390 shares of the fast-food giant's stock after acquiring an additional 7,918 shares during the period. Public Sector Pension Investment Board's holdings in McDonald's were worth $30,422,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MCD. AIA Group Ltd increased its stake in shares of McDonald's by 28.4% in the 1st quarter. AIA Group Ltd now owns 25,962 shares of the fast-food giant's stock valued at $8,110,000 after buying an additional 5,750 shares during the period. Longfellow Investment Management Co. LLC increased its stake in shares of McDonald's by 27.7% in the 1st quarter. Longfellow Investment Management Co. LLC now owns 3,631 shares of the fast-food giant's stock valued at $1,134,000 after buying an additional 787 shares during the period. Cove Private Wealth LLC increased its stake in shares of McDonald's by 19.5% in the 1st quarter. Cove Private Wealth LLC now owns 3,175 shares of the fast-food giant's stock valued at $992,000 after buying an additional 518 shares during the period. First American Trust FSB increased its stake in shares of McDonald's by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after buying an additional 13,234 shares during the period. Finally, SouthState Corp increased its stake in shares of McDonald's by 1.8% in the 1st quarter. SouthState Corp now owns 14,586 shares of the fast-food giant's stock valued at $4,556,000 after buying an additional 257 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MCD. Redburn Atlantic reissued a "sell" rating and issued a $260.00 target price (down from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. Barclays raised their price target on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Erste Group Bank lowered McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. BTIG Research restated a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Finally, Robert W. Baird raised their price target on McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald's presently has an average rating of "Hold" and a consensus target price of $326.87.

McDonald's Price Performance

Shares of MCD traded down $2.73 during midday trading on Tuesday, hitting $301.63. The stock had a trading volume of 3,438,206 shares, compared to its average volume of 3,433,888. The company has a 50 day simple moving average of $298.17 and a two-hundred day simple moving average of $304.74. The firm has a market cap of $215.24 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.11 and a beta of 0.52. McDonald's Corporation has a twelve month low of $267.54 and a twelve month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%. McDonald's's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 earnings per share. Analysts forecast that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given 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 dividend yield of 2.3%. McDonald's's payout ratio is currently 60.67%.

Insider Activity at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 976 shares of McDonald's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $303.50, for a total value of $296,216.00. Following the completion of the sale, the chief marketing officer directly owned 7,882 shares in the company, valued at approximately $2,392,187. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,280 shares of company stock valued at $2,215,178. 0.25% of the stock is owned by insiders.

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.