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

Summit Global Investments decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 41.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,971 shares of the fast-food giant’s stock after selling 9,138 shares during the quarter. Summit Global Investments’ holdings in McDonald’s were worth $3,305,000 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. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s during the first quarter worth about $28,000. Signature Resources Capital Management LLC purchased a new stake in McDonald’s in the fourth quarter valued at $31,000. Clear Investment Research LLC acquired a new position in McDonald’s during the fourth quarter worth approximately $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in McDonald’s in the 4th quarter valued at $39,000. Finally, Accent Capital Management LLC purchased a new stake in shares of McDonald’s in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the transaction, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the transaction, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,794 shares of company stock valued at $1,234,491. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MCD has been the topic of several recent analyst reports. Barclays dropped their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. Citigroup decreased their price target on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. KeyCorp reduced their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Finally, Robert W. Baird decreased their price target on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $303.71.

McDonald’s Price Performance

NYSE MCD traded down $1.92 during trading on Tuesday, reaching $285.63. 3,567,918 shares of the company’s stock were exchanged, compared to its average volume of 3,580,024. The business has a 50 day moving average price of $260.01 and a 200-day moving average price of $270.72. The stock has a market capitalization of $205.85 billion, a P/E ratio of 24.25, a PEG ratio of 3.58 and a beta of 0.71. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

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

McDonald’s Dividend Announcement

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

About McDonald’s

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.