State Treasurer State of Michigan Reduces Stock Position in Mcdonald’s Corp (NYSE:MCD)

State Treasurer State of Michigan lessened its stake in shares of Mcdonald’s Corp (NYSE:MCD) by 17.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,757 shares of the fast-food giant’s stock after selling 37,800 shares during the quarter. State Treasurer State of Michigan’s holdings in Mcdonald’s were worth $37,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCD. First Command Financial Services Inc. lifted its holdings in Mcdonald’s by 2.7% during the second quarter. First Command Financial Services Inc. now owns 1,857 shares of the fast-food giant’s stock valued at $386,000 after purchasing an additional 48 shares in the last quarter. Graves Light Private Wealth Management Inc. lifted its holdings in Mcdonald’s by 1.5% during the second quarter. Graves Light Private Wealth Management Inc. now owns 3,428 shares of the fast-food giant’s stock valued at $712,000 after purchasing an additional 49 shares in the last quarter. Gilman Hill Asset Management LLC lifted its holdings in Mcdonald’s by 2.2% during the second quarter. Gilman Hill Asset Management LLC now owns 2,344 shares of the fast-food giant’s stock valued at $487,000 after purchasing an additional 50 shares in the last quarter. Duncker Streett & Co. Inc. lifted its holdings in Mcdonald’s by 1.9% during the second quarter. Duncker Streett & Co. Inc. now owns 2,698 shares of the fast-food giant’s stock valued at $560,000 after purchasing an additional 50 shares in the last quarter. Finally, Legacy Private Trust Co. lifted its holdings in Mcdonald’s by 1.1% during the second quarter. Legacy Private Trust Co. now owns 4,678 shares of the fast-food giant’s stock valued at $971,000 after purchasing an additional 52 shares in the last quarter. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $212.58, for a total value of $5,665,044.42. Following the sale, the executive vice president now owns 40,129 shares in the company, valued at $8,530,622.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Frederick Borden sold 4,149 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $199.22, for a total transaction of $826,563.78. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Several brokerages have weighed in on MCD. Robert W. Baird lifted their price target on shares of Mcdonald’s from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Goldman Sachs Group began coverage on shares of Mcdonald’s in a report on Monday, July 29th. They set a “buy” rating and a $250.00 price target on the stock. Cowen lifted their price target on shares of Mcdonald’s from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Stifel Nicolaus lifted their price target on shares of Mcdonald’s from $200.00 to $210.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Morgan Stanley lifted their price target on shares of Mcdonald’s from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $219.23.

Shares of Mcdonald’s stock traded up $1.19 on Wednesday, hitting $215.27. 150,008 shares of the company traded hands, compared to its average volume of 2,776,640. The firm has a market cap of $163.77 billion, a PE ratio of 27.31, a P/E/G ratio of 3.07 and a beta of 0.49. Mcdonald’s Corp has a 52 week low of $155.84 and a 52 week high of $218.96. The company’s 50-day moving average price is $210.96.

Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Friday, July 26th. The fast-food giant reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.01). Mcdonald’s had a negative return on equity of 92.99% and a net margin of 28.32%. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter in the prior year, the firm posted $1.99 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. Research analysts anticipate that Mcdonald’s Corp will post 8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, August 30th. Mcdonald’s’s dividend payout ratio is presently 58.73%.

Mcdonald’s Company Profile

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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