California Public Employees Retirement System Decreases Stock Position in McDonald’s Co. (NYSE:MCD)

California Public Employees Retirement System lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,961,775 shares of the fast-food giant’s stock after selling 206,003 shares during the period. McDonald’s makes up about 0.6% of California Public Employees Retirement System’s investment portfolio, making the stock its 28th largest position. California Public Employees Retirement System’s holdings in McDonald’s were worth $858,589,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Boltwood Capital Management grew its holdings in McDonald’s by 1.9% in the 4th quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock valued at $546,000 after buying an additional 35 shares during the last quarter. Pettee Investors Inc. boosted its position in shares of McDonald’s by 0.7% in the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after acquiring an additional 35 shares during the period. Modus Advisors LLC grew its stake in shares of McDonald’s by 0.4% in the fourth quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant’s stock worth $2,724,000 after acquiring an additional 36 shares during the last quarter. Independent Wealth Network Inc. grew its stake in shares of McDonald’s by 5.1% in the fourth quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock worth $213,000 after acquiring an additional 36 shares during the last quarter. Finally, Blue Barn Wealth LLC increased its position in McDonald’s by 4.3% during the fourth quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant’s stock worth $252,000 after acquiring an additional 36 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,405 shares of company stock worth $9,886,656. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 1.8 %

McDonald’s stock opened at $306.95 on Friday. The stock has a 50-day simple moving average of $301.52 and a 200 day simple moving average of $298.15. The stock has a market capitalization of $219.31 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, sell-side analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Wall Street Analyst Weigh In

Several analysts have issued reports on MCD shares. Barclays raised their price target on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Wedbush boosted their price target on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Loop Capital reissued a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Truist Financial cut their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Robert W. Baird lifted their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $323.61.

About McDonald’s

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.