SouthState Corp Acquires 342 Shares of McDonald’s Corporation $MCD

SouthState Corp grew its holdings in McDonald’s Corporation (NYSE:MCD) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,928 shares of the fast-food giant’s stock after purchasing an additional 342 shares during the period. SouthState Corp’s holdings in McDonald’s were worth $4,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in McDonald’s during the 1st quarter worth approximately $1,324,961,000. Price T Rowe Associates Inc. MD increased its holdings in McDonald’s by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after acquiring an additional 1,344,954 shares during the period. Goldman Sachs Group Inc. increased its holdings in McDonald’s by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after acquiring an additional 815,768 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in McDonald’s by 732.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after acquiring an additional 572,408 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in McDonald’s by 204.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after acquiring an additional 407,982 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCD. KeyCorp reaffirmed an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a report on Monday, October 20th. Barclays boosted their price target on shares of McDonald’s from $360.00 to $362.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada started coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target for the company. Piper Sandler reissued a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research note on Wednesday, October 22nd. Finally, Bank of America cut their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $323.43.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $305.01 on Thursday. The company has a fifty day moving average of $304.94 and a 200-day moving average of $305.25. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The stock has a market capitalization of $217.66 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the company earned $3.23 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors of record on Monday, December 1st will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is 63.75%.

About McDonald’s

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.