Teacher Retirement System of Texas Raises Stock Holdings in McDonald’s Co. (NYSE:MCD)

Teacher Retirement System of Texas boosted its holdings in McDonald’s Co. (NYSE:MCD) by 70.4% in the fourth quarter, HoldingsChannel reports. The firm owned 194,797 shares of the fast-food giant’s stock after purchasing an additional 80,467 shares during the period. Teacher Retirement System of Texas’ holdings in McDonald’s were worth $56,470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCD. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the third quarter valued at about $25,000. Atala Financial Inc purchased a new position in McDonald’s in the fourth quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in McDonald’s in the fourth quarter valued at about $27,000. Collier Financial purchased a new position in McDonald’s in the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC lifted its holdings in McDonald’s by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several analyst reports. KeyCorp raised their target price on McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Robert W. Baird lifted their price target on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Morgan Stanley reduced their price objective on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research note on Monday. Piper Sandler reduced their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, Wedbush raised their price objective on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.39.

McDonald’s Stock Performance

Shares of MCD opened at $307.18 on Friday. The firm has a market cap of $219.47 billion, a PE ratio of 26.97, a PEG ratio of 3.10 and a beta of 0.71. The firm’s 50 day moving average price is $298.30 and its 200 day moving average price is $297.26. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32.

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

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

Insider Buying and Selling

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the completion of the sale, the executive vice president now directly owns 5,564 shares in the company, valued at approximately $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,504 shares of company stock worth $10,206,575. 0.23% of the stock is currently owned by insiders.

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.