McDonald’s Co. (NYSE:MCD) Stock Position Lowered by Summit Global Investments

Summit Global Investments lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,271 shares of the fast-food giant’s stock after selling 1,700 shares during the quarter. Summit Global Investments’ holdings in McDonald’s were worth $3,432,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MCD. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth $38,000. Hara Capital LLC acquired a new stake in shares of McDonald’s during the third quarter valued at approximately $44,000. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the second quarter valued at approximately $59,000. Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $65,000. Finally, Macroview Investment Management LLC boosted its stake in McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Barclays raised their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Stock Performance

Shares of MCD opened at $294.68 on Friday. The company has a 50-day simple moving average of $298.74 and a 200-day simple moving average of $276.35. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $211.39 billion, a P/E ratio of 25.87, a P/E/G ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the firm posted $3.19 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

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.