State of Michigan Retirement System Sells 800 Shares of McDonald’s Co. (NYSE:MCD)

State of Michigan Retirement System lowered its stake in McDonald’s Co. (NYSE:MCD) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in McDonald’s in the 3rd quarter valued at about $25,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial bought a new position in McDonald’s in the fourth quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in McDonald’s during the third quarter worth $31,000. Finally, Marshall Investment Management LLC bought a new stake in McDonald’s during the fourth quarter worth $37,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCD. Citigroup lifted their price target on McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. TD Securities reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research report on Monday, February 10th. Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research report on Friday, January 3rd. BMO Capital Markets raised their price objective on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Barclays boosted their price objective on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Trading Down 1.5 %

NYSE:MCD opened at $303.70 on Tuesday. The firm’s 50 day moving average is $294.31 and its 200 day moving average is $295.64. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The stock has a market capitalization of $216.98 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Research analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the sale, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock worth $10,206,575 in the last quarter. 0.23% of the stock is owned by company insiders.

McDonald’s Company Profile

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.