State of Alaska Department of Revenue Purchases 2,245 Shares of McDonald's Corporation (NYSE:MCD)

State of Alaska Department of Revenue increased its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,946 shares of the fast-food giant's stock after buying an additional 2,245 shares during the period. State of Alaska Department of Revenue's holdings in McDonald's were worth $26,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Brighton Jones LLC raised its holdings in shares of McDonald's by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock worth $2,692,000 after buying an additional 1,649 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in McDonald's in the fourth quarter valued at about $64,805,000. Revolve Wealth Partners LLC raised its stake in McDonald's by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after acquiring an additional 52 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of McDonald's by 15.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock worth $60,722,000 after acquiring an additional 27,774 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of McDonald's by 9.5% in the 4th quarter. Principal Securities Inc. now owns 11,099 shares of the fast-food giant's stock valued at $3,217,000 after purchasing an additional 966 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCD. Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Loop Capital downgraded 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 report on Friday, June 6th. Morgan Stanley reiterated an "equal weight" rating and issued a $324.00 target price (down from $329.00) on shares of McDonald's in a research report on Monday, June 9th. KeyCorp boosted their price target on McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Finally, Barclays raised their price objective on shares of McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $321.79.

McDonald's Price Performance

Shares of MCD stock traded down $3.07 on Wednesday, reaching $289.24. 4,004,866 shares of the company were exchanged, compared to its average volume of 3,514,495. The company has a 50-day moving average of $311.66 and a 200-day moving average of $302.95. The company has a market cap of $206.81 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.09 and a beta of 0.56. McDonald's Corporation has a one year low of $243.53 and a one year high of $326.32.

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

McDonald's Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.77 dividend. 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 dividend payout ratio is currently 62.49%.

Insider Activity at McDonald's

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

About McDonald's

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.