Summit Global Investments Sells 1,700 Shares of McDonald’s Co. (NYSE:MCD)

Summit Global Investments decreased its position in McDonald’s Co. (NYSE:MCD) by 13.1% during the 3rd quarter, Holdings Channel.com reports. The fund 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 and other institutional investors have also recently added to or reduced their stakes in the company. First National Bank & Trust Co. of Newtown boosted its stake in shares of McDonald’s by 1.1% in the 3rd quarter. First National Bank & Trust Co. of Newtown now owns 12,464 shares of the fast-food giant’s stock valued at $3,795,000 after purchasing an additional 133 shares during the last quarter. Hudson Value Partners LLC lifted its holdings in McDonald’s by 3.7% during the third quarter. Hudson Value Partners LLC now owns 13,852 shares of the fast-food giant’s stock worth $4,218,000 after acquiring an additional 497 shares in the last quarter. Lifestyle Asset Management Inc. acquired a new position in McDonald’s in the third quarter valued at about $224,000. TFB Advisors LLC increased its holdings in shares of McDonald’s by 3.6% in the third quarter. TFB Advisors LLC now owns 1,863 shares of the fast-food giant’s stock worth $567,000 after acquiring an additional 64 shares in the last quarter. Finally, Tandem Investment Advisors Inc. acquired a new stake in shares of McDonald’s during the third quarter worth about $218,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock worth $10,698,289 over the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $294.68 on Friday. The stock’s fifty day moving average price is $298.74 and its two-hundred day moving average price is $276.35. The firm has a market cap of $211.39 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The business 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 business posted $3.19 earnings per share. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays boosted their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley lifted their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $319.46.

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.