State of Michigan Retirement System Has $56.39 Million Stock Position in McDonald’s Co. (NYSE:MCD)

State of Michigan Retirement System cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,515 shares of the fast-food giant’s stock after selling 800 shares during the period. State of Michigan Retirement System’s holdings in McDonald’s were worth $56,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Clear Creek Financial Management LLC increased its stake in McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares in the last quarter. Pure Financial Advisors LLC grew its holdings in shares of McDonald’s by 11.3% in the 3rd quarter. Pure Financial Advisors LLC now owns 3,279 shares of the fast-food giant’s stock valued at $998,000 after buying an additional 334 shares during the period. Van ECK Associates Corp increased its position in shares of McDonald’s by 8.9% in the 3rd quarter. Van ECK Associates Corp now owns 17,809 shares of the fast-food giant’s stock valued at $5,317,000 after buying an additional 1,451 shares in the last quarter. Lansing Street Advisors raised its stake in McDonald’s by 0.7% during the 3rd quarter. Lansing Street Advisors now owns 50,332 shares of the fast-food giant’s stock worth $15,327,000 after buying an additional 326 shares during the period. Finally, Forum Financial Management LP lifted its holdings in McDonald’s by 1.4% during the third quarter. Forum Financial Management LP now owns 9,543 shares of the fast-food giant’s stock worth $2,906,000 after acquiring an additional 131 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, EVP Tiffanie L. Boyd sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $309.27, for a total transaction of $309,270.00. Following the transaction, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. This trade represents a 15.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock worth $10,206,575 over the last quarter. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of several recent analyst reports. Citigroup lifted their price objective on McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Robert W. Baird upped their price target on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research report on Friday, January 3rd. Truist Financial lowered their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Bank of America boosted their price target on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Trading Down 1.5 %

MCD stock opened at $303.70 on Tuesday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business’s 50 day simple moving average is $294.31 and its 200 day simple moving average is $295.64. The firm has a market capitalization of $216.98 billion, a PE ratio of 26.66, a PEG ratio of 3.10 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share 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%. As a group, sell-side analysts predict that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio is presently 62.16%.

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.