McDonald’s Co. (NYSE:MCD) Stock Position Lowered by Kentucky Retirement Systems Insurance Trust Fund

by · The Cerbat Gem

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 8.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,239 shares of the fast-food giant’s stock after selling 2,006 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in McDonald’s were worth $6,467,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc boosted its position in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Capital Research Global Investors boosted its holdings in McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares in the last quarter. Ameriprise Financial Inc. grew its position in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares during the last quarter. Capital World Investors grew its position in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

McDonald’s stock opened at $292.52 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a fifty day moving average price of $300.06 and a two-hundred day moving average price of $277.42. The firm has a market cap of $209.63 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 3.95 and a beta of 0.74.

McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 EPS. As a group, sell-side analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 58.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCD. Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Tigress Financial boosted their price objective on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Finally, Wedbush restated an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Get Our Latest Report on McDonald’s

Insider Activity

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,596 shares of company stock valued at $10,698,289. Insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

(Free Report)

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.

Recommended Stories