Police & Firemen s Retirement System of New Jersey Has $31.72 Million Stock Position in McDonald’s Corporation $MCD

Police & Firemen s Retirement System of New Jersey raised its stake in shares of McDonald’s Corporation (NYSE:MCD) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,560 shares of the fast-food giant’s stock after purchasing an additional 3,692 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in McDonald’s were worth $31,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MCD. Decker Retirement Planning Inc. lifted its holdings in shares of McDonald’s by 142.9% during the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Legacy Investment Solutions LLC bought a new position in McDonald’s during the 2nd quarter valued at about $25,000. HFM Investment Advisors LLC acquired a new position in McDonald’s in the first quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s in the first quarter valued at about $26,000. Finally, GFG Capital LLC bought a new stake in McDonald’s during the second quarter worth about $29,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares in the company, valued at $1,383,734.52. The trade was a 74.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,134 shares of company stock valued at $4,570,716 over the last three months. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCD. Barclays cut their target price on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Truist Financial cut their price objective on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. TD Cowen increased their target price on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Bank of America lowered their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Finally, Guggenheim reduced their price target on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $323.91.

McDonald’s Trading Down 0.1%

Shares of NYSE:MCD opened at $306.63 on Thursday. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The stock has a market capitalization of $218.37 billion, a P/E ratio of 26.28, a P/E/G ratio of 3.23 and a beta of 0.50. The business has a 50-day moving average price of $303.72 and a two-hundred day moving average price of $304.76.

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 225.52% and a net margin of 32.21%.The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the firm earned $3.23 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $1.86 dividend. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is 63.48%.

McDonald’s Company Profile

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.