State of Michigan Retirement System Purchases 100 Shares of McDonald’s Co. (NYSE:MCD)

State of Michigan Retirement System grew its position in McDonald’s Co. (NYSE:MCD) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 198,715 shares of the fast-food giant’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in McDonald’s were worth $56,028,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MCD. Signature Resources Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at $31,000. Spartan Planning & Wealth Management bought a new position in McDonald’s during the third quarter worth $33,000. Clear Investment Research LLC bought a new position in McDonald’s during the fourth quarter worth $38,000. Keener Financial Planning LLC bought a new position in McDonald’s during the fourth quarter worth $39,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s during the fourth quarter worth $39,000. 70.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MCD. Stifel Nicolaus cut their target price on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Bank of America cut their target price on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. BMO Capital Markets lowered their price objective on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley decreased their target price on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, KeyCorp lowered their target price on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.89.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The disclosure for this sale can be found here. Insiders have sold 4,095 shares of company stock worth $1,100,625 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Down 0.9 %

MCD traded down $2.20 on Tuesday, hitting $247.79. The company’s stock had a trading volume of 3,942,310 shares, compared to its average volume of 3,437,717. The company’s 50 day simple moving average is $262.80 and its 200-day simple moving average is $278.79. The firm has a market cap of $178.58 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $2.63 earnings per share. Equities analysts predict that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.70%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.