McDonald’s Co. (NYSE:MCD) Stake Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,701 shares of the fast-food giant’s stock after selling 4,165 shares during the period. State of Alaska Department of Revenue’s holdings in McDonald’s were worth $23,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in McDonald’s by 542.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after purchasing an additional 677,139 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in McDonald’s during the third quarter valued at approximately $121,254,000. Zurich Insurance Group Ltd FI raised its position in shares of McDonald’s by 3,580.1% in the third quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after purchasing an additional 261,350 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of McDonald’s in the fourth quarter worth $64,805,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Down 0.4 %

NYSE:MCD opened at $288.49 on Thursday. The stock’s fifty day simple moving average is $290.88 and its 200-day simple moving average is $290.38. The firm has a market capitalization of $206.74 billion, a P/E ratio of 25.33, a P/E/G ratio of 3.83 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the transaction, the insider now owns 9,286 shares of the company’s stock, valued at $2,716,155. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,406 shares of company stock worth $2,150,857. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCD. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. UBS Group raised their target price on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup upped their price target on McDonald’s from $334.00 to $336.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley lowered their price objective on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $319.57.

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.