Retirement Systems of Alabama Has $44.98 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Retirement Systems of Alabama reduced its position in McDonald’s Co. (NYSE:MCD) by 55.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 155,154 shares of the fast-food giant’s stock after selling 196,874 shares during the period. Retirement Systems of Alabama’s holdings in McDonald’s were worth $44,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cassia Capital Partners LLC grew its stake in shares of McDonald’s by 44.3% during the fourth quarter. Cassia Capital Partners LLC now owns 2,985 shares of the fast-food giant’s stock worth $865,000 after purchasing an additional 917 shares during the period. Avitas Wealth Management LLC grew its stake in shares of McDonald’s by 0.6% during the fourth quarter. Avitas Wealth Management LLC now owns 21,656 shares of the fast-food giant’s stock worth $6,278,000 after purchasing an additional 123 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $4,229,000. E. Ohman J or Asset Management AB grew its stake in shares of McDonald’s by 12.1% during the fourth quarter. E. Ohman J or Asset Management AB now owns 32,870 shares of the fast-food giant’s stock worth $9,529,000 after purchasing an additional 3,560 shares during the period. Finally, Stephens Consulting LLC grew its stake in shares of McDonald’s by 17.0% during the fourth quarter. Stephens Consulting LLC now owns 516 shares of the fast-food giant’s stock worth $150,000 after purchasing an additional 75 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

NYSE:MCD opened at $290.00 on Wednesday. The stock’s 50-day simple moving average is $291.00 and its 200 day simple moving average is $290.15. The company has a market cap of $207.82 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.83 and a beta of 0.74. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MCD shares. KeyCorp decreased their price objective on McDonald’s from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Morgan Stanley reduced their target price on McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Loop Capital reiterated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Piper Sandler reduced their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.58.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,406 shares of company stock valued at $2,150,857 over the last 90 days. 0.23% of the stock is currently owned by insiders.

About McDonald’s

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.