Illinois Municipal Retirement Fund Grows Stock Position in McDonald's Corporation (NYSE:MCD)

Illinois Municipal Retirement Fund lifted its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,403 shares of the fast-food giant's stock after buying an additional 1,455 shares during the period. Illinois Municipal Retirement Fund's holdings in McDonald's were worth $9,185,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Granite Bay Wealth Management LLC increased its holdings in McDonald's by 3.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC increased its holdings in McDonald's by 1.9% during the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after purchasing an additional 33 shares during the period. Consilium Wealth Advisory LLC increased its holdings in McDonald's by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after purchasing an additional 33 shares during the period. Northeast Financial Consultants Inc increased its holdings in McDonald's by 0.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock valued at $2,170,000 after purchasing an additional 34 shares during the period. Finally, Tealwood Asset Management Inc. increased its holdings in McDonald's by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant's stock valued at $2,535,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of research analyst reports. Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Loop Capital cut McDonald's from a "buy" rating to a "hold" rating and cut their price objective for the company from $346.00 to $315.00 in a research report on Friday, June 6th. Morgan Stanley reaffirmed an "equal weight" rating and set a $324.00 price objective (down from $329.00) on shares of McDonald's in a research report on Monday, June 9th. KeyCorp lifted their price objective on McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Finally, Barclays lifted their price objective on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $321.79.

McDonald's Trading Up 2.2%

MCD stock opened at $291.94 on Friday. The stock has a market capitalization of $208.74 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.98 and a beta of 0.56. McDonald's Corporation has a 12-month low of $243.53 and a 12-month high of $326.32. The stock's 50 day simple moving average is $308.26 and its 200 day simple moving average is $302.43.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. The business had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.70 EPS. On average, research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.43%. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

Insider Activity at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares of the company's stock, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 2,817 shares of company stock valued at $865,843. 0.25% of the stock is owned by corporate 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.

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