State of Michigan Retirement System Has $56.03 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

State of Michigan Retirement System raised its holdings in McDonald’s Co. (NYSE:MCD) by 0.1% during the first quarter, HoldingsChannel reports. The firm owned 198,715 shares of the fast-food giant’s stock after acquiring an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in McDonald’s were worth $56,028,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Independent Wealth Network Inc. lifted its holdings in McDonald’s by 4.2% in the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after buying an additional 35 shares during the period. Concentric Wealth Management LLC lifted its holdings in McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after buying an additional 35 shares during the period. Paragon Capital Management Ltd lifted its holdings in McDonald’s by 2.7% in the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock worth $407,000 after buying an additional 36 shares during the period. Mechanics Financial Corp lifted its holdings in McDonald’s by 0.7% in the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock worth $1,581,000 after buying an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its holdings in McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after buying an additional 36 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

McDonald’s stock traded down $2.20 during trading hours on Tuesday, reaching $247.79. The stock had a trading volume of 3,942,310 shares, compared to its average volume of 3,437,717. The company has a market cap of $178.58 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.87 and a beta of 0.71. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The business’s 50 day moving average price is $262.80 and its 200-day moving average price is $278.79.

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

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Wall Street Analyst Weigh In

MCD has been the subject of several recent research reports. Stifel Nicolaus lowered their target price on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. Robert W. Baird decreased their price target on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Citigroup decreased their price target on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, BMO Capital Markets decreased their target price on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $313.89.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders have sold 4,095 shares of company stock valued at $1,100,625 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.