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

SouthState Corp lessened its holdings in McDonald’s Co. (NYSE:MCD) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,179 shares of the fast-food giant’s stock after selling 417 shares during the period. SouthState Corp’s holdings in McDonald’s were worth $3,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Independent Wealth Network Inc. raised its stake in shares of McDonald’s by 4.2% during the 4th quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after buying an additional 35 shares in the last quarter. Paragon Capital Management Ltd increased its stake in McDonald’s by 2.7% in the 4th quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after purchasing an additional 36 shares in the last quarter. Mechanics Financial Corp increased its stake in McDonald’s by 0.7% in the 4th quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares in the last quarter. Unique Wealth LLC increased its stake in McDonald’s by 1.2% in the 4th quarter. Unique Wealth LLC now owns 3,249 shares of the fast-food giant’s stock valued at $963,000 after purchasing an additional 38 shares in the last quarter. Finally, Patron Partners LLC increased its stake in McDonald’s by 0.7% in the 4th quarter. Patron Partners LLC now owns 5,158 shares of the fast-food giant’s stock valued at $1,529,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on MCD shares. Guggenheim dropped their price objective on McDonald’s from $325.00 to $315.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen reaffirmed a “buy” rating and issued a $305.00 price objective on shares of McDonald’s in a research note on Tuesday. Stifel Nicolaus dropped their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. Finally, Citigroup dropped their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $317.74.

McDonald’s Stock Performance

McDonald’s stock traded down $1.15 during midday trading on Thursday, reaching $273.28. The stock had a trading volume of 3,084,323 shares, compared to its average volume of 3,329,244. McDonald’s Co. has a twelve month low of $245.73 and a twelve month high of $302.39. The stock has a market capitalization of $197.04 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71. The stock’s 50-day simple moving average is $280.53 and its 200 day simple moving average is $282.27.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the business posted $2.63 EPS. McDonald’s’s revenue was up 4.6% compared to the same quarter last year. Equities analysts predict that McDonald’s Co. will post 12.34 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, February 29th. McDonald’s’s payout ratio is currently 56.71%.

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.