SummitTX Capital L.P. Lowers Stock Position in McDonald’s Corporation $MCD

SummitTX Capital L.P. cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 60.9% during the first quarter, Holdings Channel.com reports. The firm owned 9,177 shares of the fast-food giant’s stock after selling 14,275 shares during the period. SummitTX Capital L.P.’s holdings in McDonald’s were worth $2,852,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of McDonald’s in the 4th quarter valued at $2,890,438,000. Diamant Asset Management Inc. lifted its stake in shares of McDonald’s by 30,979.0% during the 1st quarter. Diamant Asset Management Inc. now owns 2,596,340 shares of the fast-food giant’s stock worth $806,917,000 after purchasing an additional 2,587,986 shares during the last quarter. J. Stern & Co. LLP lifted its stake in shares of McDonald’s by 9,867.5% during the 4th quarter. J. Stern & Co. LLP now owns 2,541,008 shares of the fast-food giant’s stock worth $776,608,000 after purchasing an additional 2,515,515 shares during the last quarter. Viking Global Investors LP boosted its position in McDonald’s by 171.7% during the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after purchasing an additional 1,974,998 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in McDonald’s by 49.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,104,337 shares of the fast-food giant’s stock valued at $948,779,000 after purchasing an additional 1,033,041 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the completion of the sale, the insider owned 7,734 shares of the company’s stock, valued at approximately $2,198,930.88. The trade was a 40.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $278.36, for a total value of $769,108.68. Following the sale, the executive vice president owned 6,268 shares in the company, valued at approximately $1,744,760.48. The trade was a 30.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 8,348 shares of company stock valued at $2,355,634. 0.26% of the stock is currently owned by insiders.

More McDonald’s News

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: UBS maintained a Buy rating despite lowering its price target from $365 to $340, implying substantial potential upside from recent levels. The target reduction reflects a more cautious outlook, but the continued Buy rating provides a positive signal. UBS McDonald’s price target report
• Positive Sentiment: McDonald’s affirmed its quarterly dividend of $1.86 per share, payable September 16. Its long record of annual dividend increases may attract income-oriented investors, particularly with the stock trading well below its 52-week high. McDonald’s dividend and valuation analysis
• Positive Sentiment: Wall Street’s average price targets remain materially above the current share price, with some analysts viewing the pullback as a buying opportunity if McDonald’s can stabilize sales and restore growth. McDonald’s near 52-week low analysis

McDonald’s Trading Up 0.8%

NYSE MCD opened at $272.82 on Wednesday. The company has a fifty day simple moving average of $275.60 and a two-hundred day simple moving average of $298.42. The stock has a market cap of $193.84 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.91 and a beta of 0.41. McDonald’s Corporation has a 12-month low of $260.96 and a 12-month high of $341.75.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, topping the consensus estimate of $2.74 by $0.09. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.47 billion. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.67 earnings per share. As a group, sell-side analysts forecast that McDonald’s Corporation will post 12.86 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be paid a $1.86 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.7%. McDonald’s’s dividend payout ratio (DPR) is 61.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MCD shares. BTIG Research reduced their target price on shares of McDonald’s from $370.00 to $350.00 and set a “buy” rating for the company in a report on Friday, July 24th. Royal Bank Of Canada reissued a “sector perform” rating on shares of McDonald’s in a research report on Tuesday. Rothschild & Co Redburn upgraded shares of McDonald’s from a “sell” rating to a “neutral” rating and raised their price target for the company from $260.00 to $306.00 in a report on Thursday, April 23rd. Robert W. Baird set a $305.00 price objective on shares of McDonald’s in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of McDonald’s from $325.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $333.32.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.