Retirement Systems of Alabama Sells 1,161 Shares of McDonald's Corporation (NYSE:MCD)

Retirement Systems of Alabama cut its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,993 shares of the fast-food giant's stock after selling 1,161 shares during the quarter. Retirement Systems of Alabama's holdings in McDonald's were worth $48,103,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Mattern Capital Management LLC boosted its stake in McDonald's by 2.0% during the 4th quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant's stock valued at $8,729,000 after purchasing an additional 579 shares during the period. Bell Bank increased its position in McDonald's by 3.0% in the 4th quarter. Bell Bank now owns 12,699 shares of the fast-food giant's stock worth $3,681,000 after buying an additional 371 shares during the period. Integral Investment Advisors Inc. lifted its holdings in shares of McDonald's by 2.6% during the fourth quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant's stock worth $1,888,000 after buying an additional 164 shares during the last quarter. Aviva PLC boosted its position in shares of McDonald's by 5.6% in the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock valued at $125,350,000 after acquiring an additional 23,024 shares during the period. Finally, Sagespring Wealth Partners LLC grew its stake in shares of McDonald's by 22.9% in the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after acquiring an additional 3,212 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on MCD shares. Robert W. Baird upped their target price on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. BTIG Research restated a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Truist Financial set a $350.00 target price on shares of McDonald's in a research note on Friday, May 2nd. Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Finally, Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $321.79.

McDonald's Trading Down 1.1%

MCD opened at $289.24 on Friday. McDonald's Corporation has a 1-year low of $243.53 and a 1-year high of $326.32. The company has a market cap of $206.81 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.02 and a beta of 0.56. The company's fifty day moving average price is $311.02 and its two-hundred day moving average price is $302.84.

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

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the transaction, the insider now owns 11,161 shares in the company, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

McDonald's 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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