Summit Global Investments Sells 6,607 Shares of McDonald’s Co. (NYSE:MCD)

Summit Global Investments trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 58.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,664 shares of the fast-food giant’s stock after selling 6,607 shares during the quarter. Summit Global Investments’ holdings in McDonald’s were worth $1,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $440,000. Atlas Wealth LLC raised its holdings in shares of McDonald’s by 4.3% during the fourth quarter. Atlas Wealth LLC now owns 1,201 shares of the fast-food giant’s stock worth $348,000 after acquiring an additional 50 shares during the period. Lakeshore Financial Planning Inc. raised its holdings in shares of McDonald’s by 1.9% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,527 shares of the fast-food giant’s stock worth $733,000 after acquiring an additional 47 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $790,000. Finally, Oxford Financial Group LTD. LLC raised its holdings in shares of McDonald’s by 0.3% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 79,219 shares of the fast-food giant’s stock worth $22,965,000 after acquiring an additional 200 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares of the company’s stock, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the sale, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. This trade represents a 15.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,504 shares of company stock valued at $10,206,575 in the last quarter. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $305.07 on Friday. The company has a market capitalization of $217.96 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.10 and a beta of 0.71. The company has a 50-day simple moving average of $298.75 and a 200 day simple moving average of $297.46. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Sell-side analysts forecast that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Barclays raised their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. Bank of America lifted their price target on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Finally, TD Securities reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $323.39.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.