Utah Retirement Systems Cuts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Utah Retirement Systems trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,995 shares of the fast-food giant’s stock after selling 6,300 shares during the period. Utah Retirement Systems’ holdings in McDonald’s were worth $32,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of McDonald’s during the fourth quarter valued at about $1,616,206,000. Ameriprise Financial Inc. raised its stake in shares of McDonald’s by 40.3% during the first quarter. Ameriprise Financial Inc. now owns 3,888,377 shares of the fast-food giant’s stock valued at $871,882,000 after acquiring an additional 1,116,967 shares during the last quarter. Suvretta Capital Management LLC bought a new position in shares of McDonald’s during the first quarter valued at about $213,957,000. BlackRock Inc. raised its stake in shares of McDonald’s by 1.4% during the first quarter. BlackRock Inc. now owns 51,462,592 shares of the fast-food giant’s stock valued at $11,534,826,000 after acquiring an additional 714,829 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of McDonald’s by 22.2% during the first quarter. UBS Asset Management Americas Inc. now owns 3,443,349 shares of the fast-food giant’s stock valued at $771,792,000 after acquiring an additional 624,534 shares during the last quarter. Institutional investors and hedge funds own 66.40% of the company’s stock.

MCD stock traded up $1.32 on Thursday, hitting $237.25. The company had a trading volume of 23,449 shares, compared to its average volume of 2,157,421. McDonald’s Co. has a 12-month low of $191.64 and a 12-month high of $239.05. The company has a 50-day moving average of $233.28. The company has a market capitalization of $177.03 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.14 and a beta of 0.63.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, April 29th. The fast-food giant reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.11. McDonald’s had a net margin of 26.31% and a negative return on equity of 59.01%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the company posted $1.47 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts forecast that McDonald’s Co. will post 8.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st were given a $1.29 dividend. The ex-dividend date was Friday, May 28th. This represents a $5.16 annualized dividend and a yield of 2.17%. McDonald’s’s payout ratio is presently 85.29%.

Several equities analysts have recently commented on MCD shares. Stifel Nicolaus upped their price objective on shares of McDonald’s from $225.00 to $240.00 and gave the company a “hold” rating in a research note on Monday, April 26th. Piper Sandler upped their price objective on shares of McDonald’s from $209.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, April 12th. Morgan Stanley increased their price target on shares of McDonald’s from $250.00 to $259.00 and gave the stock an “overweight” rating in a research note on Friday, April 30th. Credit Suisse Group increased their price target on shares of McDonald’s from $238.00 to $261.00 and gave the stock an “outperform” rating in a research note on Friday, April 30th. Finally, Barclays increased their price target on shares of McDonald’s from $270.00 to $283.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 1st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. McDonald’s presently has an average rating of “Buy” and an average target price of $248.39.

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 in the United States. The International Operated Markets segment comprises operations and franchising of restaurant in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.

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Institutional Ownership by Quarter for McDonald`s (NYSE:MCD)

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