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

Summit Global Investments reduced its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 58.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCD. Boltwood Capital Management increased its position in McDonald's by 1.9% during the fourth quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant's stock worth $546,000 after buying an additional 35 shares in the last quarter. Pettee Investors Inc. boosted its stake in shares of McDonald's by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant's stock valued at $1,566,000 after acquiring an additional 35 shares during the last quarter. Modus Advisors LLC increased its position in McDonald's by 0.4% during the 4th quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant's stock worth $2,724,000 after purchasing an additional 36 shares in the last quarter. Independent Wealth Network Inc. raised its stake in McDonald's by 5.1% in the 4th quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant's stock valued at $213,000 after purchasing an additional 36 shares during the last quarter. Finally, Blue Barn Wealth LLC lifted its holdings in McDonald's by 4.3% in the 4th quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant's stock valued at $252,000 after purchasing an additional 36 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several brokerages recently issued reports on MCD. Truist Financial decreased their target price on shares of McDonald's from $342.00 to $340.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Loop Capital reissued a "buy" rating and issued a $342.00 price target on shares of McDonald's in a research note on Friday, January 3rd. KeyCorp increased their price objective on shares of McDonald's from $320.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Morgan Stanley reduced their target price on McDonald's from $340.00 to $335.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Finally, Piper Sandler dropped their target price on shares of McDonald's from $297.00 to $290.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $323.39.

Insider Activity

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the sale, the executive vice president now owns 5,564 shares of the company's stock, valued at $1,720,778.28. This represents a 15.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now directly owns 32,756 shares of the company's stock, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,405 shares of company stock valued at $9,886,656 in the last ninety days. 0.23% of the stock is owned by insiders.

McDonald's Trading Up 0.5 %

NYSE MCD traded up $1.50 during trading hours on Tuesday, reaching $307.17. 1,551,640 shares of the company's stock were exchanged, compared to its average volume of 3,336,565. The firm has a fifty day moving average of $299.21 and a 200-day moving average of $297.65. McDonald's Co. has a one year low of $243.53 and a one year high of $326.32. The stock has a market cap of $219.46 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.83. McDonald's had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, research analysts forecast that McDonald's Co. will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $1.77 per share. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. McDonald's's dividend payout ratio (DPR) is presently 62.16%.

McDonald's 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.