Arizona State Retirement System Has $65.69 Million Stock Position in McDonald's Corporation (NYSE:MCD)

Arizona State Retirement System boosted its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,308 shares of the fast-food giant's stock after purchasing an additional 2,274 shares during the period. Arizona State Retirement System's holdings in McDonald's were worth $65,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC increased its holdings in shares of McDonald's by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after buying an additional 33 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of McDonald's by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after buying an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC increased its holdings in shares of McDonald's by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after buying an additional 33 shares in the last quarter. Northeast Financial Consultants Inc increased its holdings in shares of McDonald's by 0.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after buying an additional 34 shares in the last quarter. Finally, Tealwood Asset Management Inc. increased its holdings in shares of McDonald's by 0.4% during the first quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant's stock worth $2,535,000 after buying an additional 34 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MCD shares. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Loop Capital lowered shares of McDonald's from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $346.00 to $315.00 in a report on Friday, June 6th. KeyCorp dropped their price objective on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a report on Monday, June 30th. BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Finally, Piper Sandler raised their price objective on shares of McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $322.29.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the transaction, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. The trade was a 8.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock worth $1,165,843 over the last 90 days. 0.25% of the stock is owned by company insiders.

McDonald's Price Performance

NYSE:MCD traded up $1.41 on Friday, hitting $299.80. 4,494,100 shares of the company's stock were exchanged, compared to its average volume of 3,528,540. The firm has a 50-day moving average price of $304.11 and a 200-day moving average price of $302.54. McDonald's Corporation has a 52 week low of $246.12 and a 52 week high of $326.32. The company has a market cap of $214.37 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53.

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

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. McDonald's's dividend payout ratio is presently 62.49%.

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.