State of New Jersey Common Pension Fund D Has $75.44 Million Position in McDonald's Corporation $MCD

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in McDonald's Corporation by 8.8%, now holding $75.44 million worth of stock after selling 23,419 shares.
• McDonald's reported a quarterly earnings per share (EPS) of $3.19, surpassing analysts' expectations of $3.15, with a revenue of $6.84 billion.
• The company announced a dividend of $1.77 per share, contributing to a 2.3% dividend yield with a payout ratio of 60.67%.

State of New Jersey Common Pension Fund D lessened its position in McDonald's Corporation (NYSE:MCD - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 241,495 shares of the fast-food giant's stock after selling 23,419 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in McDonald's were worth $75,436,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald's in the fourth quarter worth $25,000. Pinney & Scofield Inc. acquired a new position in McDonald's during the fourth quarter valued at approximately $29,000. GKV Capital Management Co. Inc. acquired a new position in McDonald's during the 4th quarter worth $30,000. Abound Financial LLC bought a new stake in McDonald's during the 1st quarter valued at approximately $30,000. Finally, Copia Wealth Management acquired a new stake in shares of McDonald's in the fourth quarter worth $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald's Price Performance

Shares of MCD traded up $3.6520 during midday trading on Wednesday, hitting $314.5820. The stock had a trading volume of 1,717,149 shares, compared to its average volume of 3,596,033. McDonald's Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The company has a 50 day simple moving average of $298.34 and a two-hundred day simple moving average of $305.35. The firm has a market cap of $224.49 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 3.15 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data 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. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald's's payout ratio is 60.67%.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,280 shares of company stock valued at $2,525,178. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCD has been the topic of several research reports. TD Securities restated a "hold" rating and set a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $346.00 to $315.00 in a research note on Friday, June 6th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $350.00 price target (up from $345.00) on shares of McDonald's in a report on Thursday, August 7th. Redburn Atlantic reaffirmed a "sell" rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Finally, Truist Financial raised their target price on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $326.87.

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.