Summit Global Investments Acquires 8,210 Shares of McDonald’s Co. (NYSE:MCD)

Summit Global Investments boosted its position in shares of McDonald’s Co. (NYSE:MCD) by 15.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,098 shares of the fast-food giant’s stock after acquiring an additional 8,210 shares during the period. McDonald’s accounts for about 1.2% of Summit Global Investments’ investment portfolio, making the stock its 16th largest position. Summit Global Investments’ holdings in McDonald’s were worth $18,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roffman Miller Associates Inc. PA grew its holdings in McDonald’s by 1.7% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock worth $46,179,000 after acquiring an additional 2,546 shares in the last quarter. Shulman DeMeo Asset Management LLC increased its holdings in shares of McDonald’s by 12.2% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after purchasing an additional 114 shares in the last quarter. Beaumont Financial Advisors LLC grew its stake in McDonald’s by 0.6% in the 3rd quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock valued at $21,191,000 after acquiring an additional 450 shares during the period. First National Bank of Mount Dora Trust Investment Services grew its stake in McDonald’s by 2.8% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after acquiring an additional 301 shares during the period. Finally, Mengis Capital Management Inc. boosted its stake in McDonald’s by 7.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 4,522 shares of the fast-food giant’s stock worth $1,191,000 after purchasing an additional 331 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’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 of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction 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 completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MCD shares. Oppenheimer restated a “market perform” rating on shares of McDonald’s in a report on Friday, January 5th. JPMorgan Chase & Co. lowered their price target on McDonald’s from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday. Evercore ISI reissued an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a report on Wednesday, March 27th. Morgan Stanley cut their price target on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Stephens reiterated an “overweight” rating and issued a $320.00 price objective on shares of McDonald’s in a research report on Monday, February 5th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $317.74.

McDonald’s Stock Down 0.5 %

Shares of MCD stock traded down $1.31 during mid-day trading on Thursday, reaching $273.12. The stock had a trading volume of 2,151,003 shares, compared to its average volume of 3,316,952. The firm’s 50 day simple moving average is $280.53 and its 200 day simple moving average is $282.27. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39. The firm has a market cap of $196.92 billion, a PE ratio of 23.26, a P/E/G ratio of 2.98 and a beta of 0.71.

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

McDonald’s Announces Dividend

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

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.