Strs Ohio Trims Stock Holdings in McDonald’s Corporation $MCD

Strs Ohio trimmed its holdings in McDonald’s Corporation (NYSE:MCD) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,518 shares of the fast-food giant’s stock after selling 5,930 shares during the quarter. Strs Ohio’s holdings in McDonald’s were worth $64,886,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Evergreen Private Wealth LLC boosted its stake in shares of McDonald’s by 162.5% during the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after buying an additional 52 shares during the period. Decker Retirement Planning Inc. lifted its position in McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after acquiring an additional 50 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s in the 2nd quarter valued at approximately $25,000. GFG Capital LLC acquired a new position in shares of McDonald’s in the second quarter valued at approximately $29,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of McDonald’s during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 0.1%

Shares of MCD stock opened at $306.09 on Friday. McDonald’s Corporation has a twelve month low of $280.65 and a twelve month high of $326.32. The company has a market capitalization of $217.98 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 3.03 and a beta of 0.53. The firm has a 50-day moving average price of $308.82 and a 200 day moving average price of $305.72.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.23 EPS. As a group, research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MCD shares. Royal Bank Of Canada began coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective on the stock. Sanford C. Bernstein reissued an “overweight” rating and set a $372.00 price target on shares of McDonald’s in a report on Wednesday, January 7th. Mizuho upgraded McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a report on Friday, October 31st. Finally, Truist Financial boosted their target price on McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Thirteen investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, McDonald’s currently has an average rating of “Hold” and a consensus price target of $328.88.

Insiders Place Their Bets

In related news, EVP Desiree Ralls-Morrison sold 2,486 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total transaction of $795,520.00. Following the transaction, the executive vice president directly owned 6,268 shares in the company, valued at approximately $2,005,760. This represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 3,195 shares of McDonald’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares of the company’s stock, valued at $1,861,832.16. This trade represents a 34.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 45,142 shares of company stock valued at $13,841,169. 0.25% of the stock is owned by company insiders.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.