Summit Global Investments Has $771,000 Stock Position in McDonald’s Corporation $MCD

Summit Global Investments raised its stake in McDonald’s Corporation (NYSE:MCD) by 124.2% in the second quarter, Holdings Channel reports. The firm owned 2,641 shares of the fast-food giant’s stock after acquiring an additional 1,463 shares during the quarter. Summit Global Investments’ holdings in McDonald’s were worth $771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCD. Decker Retirement Planning Inc. increased its holdings in McDonald’s by 142.9% during the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the 2nd quarter valued at about $25,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s during the 1st quarter worth about $26,000. Nova Wealth Management Inc. bought a new stake in shares of McDonald’s in the 1st quarter valued at about $26,000. Finally, GFG Capital LLC acquired a new stake in McDonald’s in the 2nd quarter valued at about $29,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

MCD opened at $310.40 on Wednesday. The business has a fifty day simple moving average of $303.16 and a 200 day simple moving average of $304.09. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a market capitalization of $221.05 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the business posted $3.23 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $1.86 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is presently 63.48%.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 3,195 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the transaction, the insider directly owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. This trade represents a 34.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 34,463 shares of company stock valued at $10,549,351. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCD shares. Stifel Nicolaus lifted their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Guggenheim boosted their target price on McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. JPMorgan Chase & Co. increased their price target on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of McDonald’s in a research report on Thursday, November 6th. Finally, Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a report on Friday, October 17th. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and a consensus target price of $324.57.

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.