Louisiana State Employees Retirement System Sells 400 Shares of McDonald’s Co. (NYSE:MCD)

Louisiana State Employees Retirement System cut its position in McDonald’s Co. (NYSE:MCD) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,400 shares of the fast-food giant’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in McDonald’s were worth $12,302,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s in the 1st quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the second quarter valued at $38,000. Keener Financial Planning LLC raised its stake in shares of McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new stake in McDonald’s during the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s in the 2nd quarter worth about $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock valued at $10,256,818 over the last ninety days. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MCD shares. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the company from $290.00 to $285.00 in a research report on Wednesday. Citigroup upped their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research report on Wednesday. Finally, Evercore ISI increased their price objective on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Price Performance

Shares of MCD stock opened at $292.50 on Friday. The business has a 50-day moving average of $297.78 and a 200 day moving average of $274.88. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The stock has a market capitalization of $210.80 billion, a PE ratio of 24.83, a P/E/G ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the company posted $3.17 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is 60.10%.

McDonald’s Profile

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.