SouthState Corp Lowers Position in McDonald’s Co. (NYSE:MCD)

SouthState Corp decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,329 shares of the fast-food giant’s stock after selling 432 shares during the period. SouthState Corp’s holdings in McDonald’s were worth $4,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in McDonald’s in the 4th quarter worth approximately $703,074,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of McDonald’s by 542.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock valued at $244,174,000 after buying an additional 677,139 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of McDonald’s by 43,591.6% during the 4th quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock valued at $171,241,000 after buying an additional 589,359 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of McDonald’s during the 3rd quarter valued at $121,254,000. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of McDonald’s by 518.1% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 348,119 shares of the fast-food giant’s stock valued at $100,916,000 after buying an additional 291,802 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCD. Piper Sandler reduced their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Robert W. Baird upped their price target on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Wedbush boosted their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Bank of America boosted their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Finally, Barclays upped their price target on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Price Performance

NYSE MCD opened at $300.00 on Monday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32. The company has a 50-day moving average of $296.96 and a 200-day moving average of $296.91. The company has a market cap of $214.34 billion, a P/E ratio of 26.34, a P/E/G ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, equities research analysts anticipate 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 will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s dividend payout ratio is presently 62.16%.

Insiders Place Their Bets

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 sale, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $291.10, for a total value of $319,918.90. Following the sale, the insider now owns 8,187 shares in the company, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock valued at $10,206,575 over the last 90 days. 0.23% of the stock is owned by company insiders.

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.