State Board of Administration of Florida Retirement System Has $210.28 Million Stake in Mcdonald’s Corp (NYSE:MCD)

State Board of Administration of Florida Retirement System decreased its holdings in Mcdonald’s Corp (NYSE:MCD) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,012,611 shares of the fast-food giant’s stock after selling 46,918 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of Mcdonald’s worth $210,279,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MCD. Litman Gregory Asset Management LLC acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at approximately $27,000. Atlas Capital Advisors LLC raised its position in shares of Mcdonald’s by 330.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 142 shares of the fast-food giant’s stock valued at $29,000 after buying an additional 109 shares in the last quarter. Aspire Private Capital LLC acquired a new position in shares of Mcdonald’s in the 4th quarter valued at approximately $32,000. Westside Investment Management Inc. acquired a new position in shares of Mcdonald’s in the 2nd quarter valued at approximately $34,000. Finally, Canton Hathaway LLC acquired a new position in shares of Mcdonald’s in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.25% of the company’s stock.

In other Mcdonald’s news, VP Catherine A. Hoovel sold 457 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.15, for a total transaction of $99,694.55. Following the sale, the vice president now directly owns 1,348 shares of the company’s stock, valued at approximately $294,066.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the sale, the executive vice president now directly owns 40,129 shares in the company, valued at $8,530,622.82. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

MCD stock traded up $0.61 during trading on Tuesday, reaching $219.39. 83,143 shares of the company were exchanged, compared to its average volume of 3,319,419. The company has a 50-day moving average of $214.52 and a two-hundred day moving average of $197.40. The company has a market capitalization of $165.92 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 3.12 and a beta of 0.49. Mcdonald’s Corp has a twelve month low of $156.56 and a twelve month high of $221.93.

Mcdonald’s (NYSE:MCD) last released its quarterly earnings data on Friday, July 26th. The fast-food giant reported $2.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.01). Mcdonald’s had a negative return on equity of 92.02% and a net margin of 28.32%. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the prior year, the company earned $1.99 earnings per share. Mcdonald’s’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, research analysts forecast that Mcdonald’s Corp will post 8.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, August 30th. Mcdonald’s’s payout ratio is 58.73%.

Several brokerages have recently commented on MCD. Morgan Stanley boosted their target price on shares of Mcdonald’s from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Stephens boosted their target price on shares of Mcdonald’s from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Mizuho boosted their target price on shares of Mcdonald’s from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Robert W. Baird boosted their target price on shares of Mcdonald’s from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Evercore ISI began coverage on shares of Mcdonald’s in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $225.00 target price for the company. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $220.23.

About Mcdonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.

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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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