Strs Ohio Buys New Stake in McDonald's Corporation $MCD

Key Points

• Strs Ohio acquired a new stake in McDonald's Corporation, purchasing 213,222 shares valued at approximately $66.6 million in the first quarter.
• McDonald's reported $3.19 EPS for the last quarter, surpassing analysts' expectations and indicating a 5.4% increase in revenue year-over-year.
• The company declared a $1.77 quarterly dividend, representing a 2.3% yield, with a payout ratio of 60.67% scheduled for payment on September 16th.

Strs Ohio bought a new stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 213,222 shares of the fast-food giant's stock, valued at approximately $66,604,000.

Several other institutional investors also recently bought and sold shares of MCD. Nuveen LLC bought a new position in McDonald's during the first quarter valued at $1,324,961,000. GAMMA Investing LLC lifted its holdings in shares of McDonald's by 39,039.7% in the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock worth $1,092,645,000 after acquiring an additional 3,488,982 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of McDonald's by 16.8% in the 1st 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 acquiring an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of McDonald's by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock worth $1,556,485,000 after acquiring an additional 815,768 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of McDonald's in the 4th quarter worth about $211,824,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald's Stock Performance

NYSE MCD opened at $306.17 on Thursday. The company has a market capitalization of $218.48 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 3.18 and a beta of 0.50. The company's 50-day simple moving average is $304.80 and its two-hundred day simple moving average is $306.60. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 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 net margin of 32.21% and a negative return on equity of 225.52%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.97 EPS. Equities analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 presently 60.67%.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares of the company's stock, valued at $2,160,270. The trade was a 12.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of McDonald's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,341 shares of company stock worth $2,544,327 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCD. Redburn Atlantic restated a "sell" rating and issued a $260.00 target price (down previously from $319.00) on shares of McDonald's in a 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 objective for the company in a report on Thursday, July 10th. Truist Financial lifted their price objective on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Citigroup lifted their price objective on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, KeyCorp reiterated an "overweight" rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, McDonald's presently has a consensus rating of "Hold" and a consensus price target of $325.14.

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.

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