McDonald’s Corporation $MCD Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in shares of McDonald’s Corporation (NYSE:MCD) by 19.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 161,200 shares of the fast-food giant’s stock after selling 38,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in McDonald’s were worth $48,987,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in McDonald’s by 1.3% in the second quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock valued at $20,840,787,000 after acquiring an additional 921,936 shares during the period. State Street Corp increased its holdings in shares of McDonald’s by 0.8% during the 2nd quarter. State Street Corp now owns 34,828,352 shares of the fast-food giant’s stock valued at $10,175,800,000 after purchasing an additional 272,139 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of McDonald’s by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock valued at $4,901,595,000 after purchasing an additional 276,065 shares during the period. Norges Bank purchased a new stake in McDonald’s during the second quarter worth $2,780,712,000. Finally, Laurel Wealth Advisors LLC boosted its holdings in McDonald’s by 29,382.3% during the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after buying an additional 5,718,087 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $307.95 on Wednesday. The stock has a market capitalization of $219.31 billion, a P/E ratio of 26.28, a PEG ratio of 3.43 and a beta of 0.52. The business has a 50 day simple moving average of $308.04 and a two-hundred day simple moving average of $304.19. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the previous year, the firm posted $3.23 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date was Monday, December 1st. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Mizuho upgraded shares of McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Truist Financial reduced their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research report on Friday, October 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $325.00 target price on shares of McDonald’s in a research note on Wednesday, October 22nd. Eleven research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $324.57.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares in the company, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ian Frederick Borden sold 17,134 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer owned 26,353 shares in the company, valued at approximately $8,169,430. This represents a 39.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,516 shares of company stock valued at $13,036,090 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.