Public Sector Pension Investment Board Raises Position in McDonald’s Co. (NYSE:MCD)

Public Sector Pension Investment Board lifted its stake in McDonald’s Co. (NYSE:MCD) by 11.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,844 shares of the fast-food giant’s stock after purchasing an additional 3,200 shares during the quarter. Public Sector Pension Investment Board’s holdings in McDonald’s were worth $9,392,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new position in McDonald’s during the third quarter valued at $31,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s during the 2nd quarter worth about $38,000. Hara Capital LLC bought a new position in McDonald’s during the 3rd quarter valued at about $44,000. Peterson Financial Group Inc. purchased a new stake in McDonald’s in the 3rd quarter worth about $58,000. Finally, Opal Wealth Advisors LLC bought a new stake in McDonald’s in the second quarter worth about $59,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. UBS Group upped their price target on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. KeyCorp lifted their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

Insider Activity

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated 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 sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the transaction, the insider now owns 11,484 shares in the company, valued at approximately $3,428,777.88. This trade represents a 8.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,597 shares of company stock valued at $10,702,754 over the last ninety days. 0.23% of the stock is currently owned by insiders.

McDonald’s Price Performance

Shares of MCD stock opened at $296.01 on Friday. The stock’s fifty day moving average price is $299.96 and its 200 day moving average price is $278.95. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a market cap of $212.13 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 3.92 and a beta of 0.74.

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

McDonald’s Increases Dividend

The business 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 is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 58.65%.

About McDonald’s

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.