McDonald’s Co. (NYSE:MCD) Shares Purchased by SouthState Corp

SouthState Corp boosted its position in shares of McDonald’s Co. (NYSE:MCD) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,910 shares of the fast-food giant’s stock after purchasing an additional 1,191 shares during the period. SouthState Corp’s holdings in McDonald’s were worth $3,800,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s in the first quarter worth approximately $28,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $38,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of McDonald’s during the 4th quarter worth $39,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth about $38,000. Finally, Accent Capital Management LLC purchased a new stake in McDonald’s in the 4th quarter valued at about $44,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. 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 1,098 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The disclosure for this sale can be found here. In the last three months, insiders sold 6,291 shares of company stock valued at $1,689,073. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD stock traded down $0.42 during trading on Thursday, reaching $287.61. 536,897 shares of the stock traded hands, compared to its average volume of 3,492,198. The business’s 50 day moving average price is $267.35 and its 200-day moving average price is $270.81. The firm has a market capitalization of $207.28 billion, a PE ratio of 24.42, a P/E/G ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a 52-week low of $243.53 and a 52-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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company posted $3.17 EPS. On average, equities research analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.32%. McDonald’s’s payout ratio is 56.71%.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of recent analyst reports. Evercore ISI boosted their price target on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Barclays reduced their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Truist Financial cut their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. BMO Capital Markets reduced their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, Loop Capital dropped their target price on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.89.

McDonald’s Company 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.