McDonald’s Co. (NYSE:MCD) Shares Sold by Summit Global Investments

Summit Global Investments reduced its stake in McDonald’s Co. (NYSE:MCD) by 41.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,971 shares of the fast-food giant’s stock after selling 9,138 shares during the period. Summit Global Investments’ holdings in McDonald’s were worth $3,305,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCD. Masso Torrence Wealth Management Inc. lifted its position in McDonald’s by 10.6% in the second quarter. Masso Torrence Wealth Management Inc. now owns 1,352 shares of the fast-food giant’s stock valued at $345,000 after purchasing an additional 130 shares during the period. Liberty One Investment Management LLC grew its holdings in shares of McDonald’s by 9.6% during the second quarter. Liberty One Investment Management LLC now owns 101,523 shares of the fast-food giant’s stock worth $25,872,000 after buying an additional 8,858 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in McDonald’s in the 2nd quarter valued at $82,000. Sanibel Captiva Trust Company Inc. lifted its position in McDonald’s by 0.9% during the second quarter. Sanibel Captiva Trust Company Inc. now owns 29,425 shares of the fast-food giant’s stock worth $7,499,000 after buying an additional 268 shares during the period. Finally, Cidel Asset Management Inc. boosted its position in shares of McDonald’s by 4.2% in the second quarter. Cidel Asset Management Inc. now owns 3,134 shares of the fast-food giant’s stock worth $799,000 after acquiring an additional 125 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the transaction, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,794 shares of company stock valued at $1,234,491. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Down 0.7 %

Shares of McDonald’s stock traded down $1.92 during trading on Tuesday, reaching $285.63. The company’s stock had a trading volume of 3,567,918 shares, compared to its average volume of 3,580,024. The firm’s 50-day moving average is $260.01 and its two-hundred day moving average is $270.72. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The company has a market cap of $205.85 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.17 earnings per share. On average, equities research analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.34%. McDonald’s’s payout ratio is 56.71%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MCD shares. JPMorgan Chase & Co. dropped their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Loop Capital dropped their price target on McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Morgan Stanley dropped their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, Guggenheim upped their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $303.71.

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.