Summit Global Investments Has $1.35 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Summit Global Investments trimmed its stake in shares of McDonald’s Co. (NYSE:MCD) by 58.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,664 shares of the fast-food giant’s stock after selling 6,607 shares during the quarter. Summit Global Investments’ holdings in McDonald’s were worth $1,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Millstone Evans Group LLC acquired a new position in McDonald’s during the 4th quarter worth approximately $440,000. Atlas Wealth LLC increased its position in McDonald’s by 4.3% during the 4th quarter. Atlas Wealth LLC now owns 1,201 shares of the fast-food giant’s stock worth $348,000 after purchasing an additional 50 shares in the last quarter. Lakeshore Financial Planning Inc. increased its position in McDonald’s by 1.9% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,527 shares of the fast-food giant’s stock worth $733,000 after purchasing an additional 47 shares in the last quarter. Wayfinding Financial LLC acquired a new position in McDonald’s during the 4th quarter worth approximately $790,000. Finally, Oxford Financial Group LTD. LLC increased its position in McDonald’s by 0.3% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 79,219 shares of the fast-food giant’s stock worth $22,965,000 after purchasing an additional 200 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCD has been the subject of several recent research reports. Piper Sandler decreased their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Bank of America upped their price target on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Finally, Wedbush upped their price target on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.39.

McDonald’s Stock Down 0.6 %

Shares of NYSE MCD opened at $305.07 on Friday. The firm has a market cap of $217.96 billion, a PE ratio of 26.78, a P/E/G ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The company’s fifty day simple moving average is $298.75 and its 200 day simple moving average is $297.46.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. On average, equities analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the completion of the sale, the insider now owns 8,187 shares of the company’s stock, valued at approximately $2,383,235.70. This represents a 11.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,504 shares of company stock valued at $10,206,575. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Company 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 on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.