Teacher Retirement System of Texas Has $68.26 Million Position in McDonald’s Corporation $MCD

Teacher Retirement System of Texas lifted its stake in McDonald’s Corporation (NYSE:MCD) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 224,603 shares of the fast-food giant’s stock after acquiring an additional 15,721 shares during the quarter. Teacher Retirement System of Texas’ holdings in McDonald’s were worth $68,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Evergreen Private Wealth LLC increased its position in McDonald’s by 162.5% in the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. Decker Retirement Planning Inc. increased its holdings in McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in McDonald’s in the second quarter worth approximately $25,000. GFG Capital LLC bought a new position in McDonald’s during the second quarter valued at approximately $29,000. Finally, Financial Gravity Companies Inc. acquired a new stake in McDonald’s in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 2,626 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $306.58, for a total value of $805,079.08. Following the completion of the transaction, the insider directly owned 5,398 shares of the company’s stock, valued at $1,654,918.84. This trade represents a 32.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer directly owned 26,353 shares in the company, valued at $8,169,430. This trade represents a 39.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,142 shares of company stock worth $13,841,169 over the last quarter. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Sanford C. Bernstein restated an “overweight” rating and set a $372.00 price target on shares of McDonald’s in a research note on Wednesday, January 7th. Royal Bank Of Canada initiated coverage on shares of McDonald’s in a research report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 target price on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research report on Wednesday, October 22nd. Robert W. Baird increased their price objective on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Morgan Stanley set a $335.00 price objective on McDonald’s in a research note on Friday, October 17th. Thirteen analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Hold” and a consensus price target of $328.88.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $306.09 on Friday. The company has a market cap of $217.98 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The firm has a fifty day moving average price of $308.82 and a two-hundred day moving average price of $305.72. McDonald’s Corporation has a fifty-two week low of $280.65 and a fifty-two week high of $326.32.

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

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.