State of Alaska Department of Revenue Has $22.89 Million Holdings in McDonald’s Co. (NYSE:MCD)

State of Alaska Department of Revenue decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,196 shares of the fast-food giant’s stock after selling 435 shares during the quarter. State of Alaska Department of Revenue’s holdings in McDonald’s were worth $22,892,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. KFG Wealth Management LLC grew its stake in shares of McDonald’s by 62.3% in the first quarter. KFG Wealth Management LLC now owns 2,822 shares of the fast-food giant’s stock valued at $796,000 after buying an additional 1,083 shares in the last quarter. WFA Asset Management Corp increased its stake in shares of McDonald’s by 21.0% during the 1st quarter. WFA Asset Management Corp now owns 1,083 shares of the fast-food giant’s stock worth $305,000 after purchasing an additional 188 shares during the last quarter. Saxon Interests Inc. increased its stake in shares of McDonald’s by 6.9% during the 1st quarter. Saxon Interests Inc. now owns 3,399 shares of the fast-food giant’s stock worth $958,000 after purchasing an additional 218 shares during the last quarter. Naviter Wealth LLC bought a new stake in shares of McDonald’s in the 1st quarter valued at about $1,364,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the 1st quarter valued at about $28,000. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MCD. Erste Group Bank reissued a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Stifel Nicolaus reduced their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, April 11th. TD Cowen reiterated a “buy” rating and set a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 13th. BMO Capital Markets reduced their price target on McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Morgan Stanley lowered their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.89.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Insiders sold a total of 5,593 shares of company stock worth $1,472,518 over the last quarter. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Price Performance

NYSE MCD traded up $2.25 during mid-day trading on Wednesday, reaching $250.04. 2,026,063 shares of the stock were exchanged, compared to its average volume of 3,426,628. The stock has a market cap of $180.20 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.87 and a beta of 0.71. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39. The stock has a 50 day simple moving average of $262.22 and a 200-day simple moving average of $278.52.

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

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

McDonald’s Company 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.