Summit Global Investments Raises Position in McDonald’s Co. (NYSE:MCD)

Summit Global Investments grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 15.5% during the fourth quarter, HoldingsChannel reports. The firm owned 61,098 shares of the fast-food giant’s stock after purchasing an additional 8,210 shares during the quarter. McDonald’s accounts for approximately 1.2% of Summit Global Investments’ investment portfolio, making the stock its 16th largest holding. Summit Global Investments’ holdings in McDonald’s were worth $18,116,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC lifted its stake in shares of McDonald’s by 51.9% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after purchasing an additional 42 shares during the period. Spartan Planning & Wealth Management purchased a new position in shares of McDonald’s during the 3rd quarter worth $33,000. Keener Financial Planning LLC purchased a new position in shares of McDonald’s during the 4th quarter worth $39,000. Bear Mountain Capital Inc. purchased a new position in shares of McDonald’s during the 4th quarter worth $43,000. Finally, Mendota Financial Group LLC purchased a new position in shares of McDonald’s in the 4th quarter worth $50,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

McDonald’s Stock Down 0.5 %

McDonald’s stock traded down $1.31 during mid-day trading on Thursday, hitting $273.12. The company’s stock had a trading volume of 2,151,003 shares, compared to its average volume of 3,316,952. The stock has a market capitalization of $196.92 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.98 and a beta of 0.71. McDonald’s Co. has a twelve month low of $245.73 and a twelve month high of $302.39. The stock’s fifty day moving average price is $280.53 and its two-hundred day moving average price is $282.27.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.63 EPS. Equities analysts expect that McDonald’s Co. will post 12.34 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $1.67 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 annualized dividend and a yield of 2.45%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MCD shares. Argus reaffirmed a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. UBS Group cut their target price on McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Truist Financial cut their target price on McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday. Stephens reaffirmed an “overweight” rating and issued a $320.00 target price on shares of McDonald’s in a research report on Monday, February 5th. Finally, Royal Bank of Canada lowered their price target on McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $317.74.

McDonald’s 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.