Michigan Pension Fund Cuts Stake in McDonald's by $1 Million

The State of Michigan Retirement System has reduced its holdings in McDonald's Corporation (NYSE:MCD) by 2.2% during the second quarter, according to a recent Form 13F filing with the Securities & Exchange Commission.

The system now owns 181,915 shares of McDonald's stock after selling 4,100 shares during the quarter. The total value of these holdings is $49.17 million at the end of the most recent reporting period.

In related news, several large investors have made adjustments to their positions in McDonald's stock. Hamilton Point Investment Advisors LLC increased its stake by 1.8% in the fourth quarter and now owns 1,750 shares worth $535,000. Encompass More Asset Management boosted its position by 1.5% during the same period.

The institutional ownership of McDonald's is at 70.29%. The company has a market capitalization of $187.83 billion, a P/E ratio of 21.56, and a beta of 0.41. McDonald's stock opened at $265.43 on Tuesday with a 50-day moving average of $273.56.