SouthState Corp Has $4.15 Million Stake in McDonald’s Co. (NYSE:MCD)

SouthState Corp trimmed its position in McDonald’s Co. (NYSE:MCD) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm 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 filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Mattern Capital Management LLC grew its position in McDonald’s by 2.0% in the fourth quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock valued at $8,729,000 after acquiring an additional 579 shares during the period. Bell Bank grew its position in McDonald’s by 3.0% in the fourth quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock valued at $3,681,000 after acquiring an additional 371 shares during the period. YANKCOM Partnership bought a new stake in McDonald’s in the fourth quarter valued at $1,628,000. Charles Schwab Investment Management Inc. grew its position in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the period. Finally, Integral Investment Advisors Inc. grew its holdings in shares of McDonald’s by 2.6% during the fourth quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant’s stock worth $1,888,000 after purchasing an additional 164 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the sale, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $453,882. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,504 shares of company stock worth $10,206,575 in the last 90 days. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MCD. Truist Financial decreased their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Barclays increased their target price on McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. TD Securities restated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Monday, February 10th. Morgan Stanley raised their price target on McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Stock Performance

McDonald’s stock opened at $300.00 on Monday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The stock has a market capitalization of $214.34 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The stock has a fifty day moving average of $296.96 and a 200-day moving average of $296.91.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. On average, research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald’s’s dividend payout ratio is currently 62.16%.

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.