McDonald’s Co. (NYSE:MCD) Shares Sold by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 12.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,695 shares of the fast-food giant’s stock after selling 243 shares during the period. Summit Financial Strategies Inc.’s holdings in McDonald’s were worth $516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Perpetual Ltd bought a new stake in McDonald’s during the first quarter worth approximately $237,000. Walker Asset Management LLC grew its holdings in shares of McDonald’s by 4.7% during the 1st quarter. Walker Asset Management LLC now owns 1,053 shares of the fast-food giant’s stock valued at $297,000 after acquiring an additional 47 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of McDonald’s by 6.5% during the 1st quarter. Wedmont Private Capital now owns 5,818 shares of the fast-food giant’s stock valued at $1,567,000 after acquiring an additional 353 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of McDonald’s by 2.7% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,322 shares of the fast-food giant’s stock valued at $3,192,000 after acquiring an additional 297 shares in the last quarter. Finally, Lantz Financial LLC boosted its holdings in McDonald’s by 2.9% in the first quarter. Lantz Financial LLC now owns 5,072 shares of the fast-food giant’s stock worth $1,430,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MCD shares. Truist Financial boosted their target price on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Bank of America cut their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, TD Cowen increased their price target on shares of McDonald’s from $280.00 to $300.00 and gave the stock a “hold” rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $315.69.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is owned by insiders.

McDonald’s Stock Up 0.1 %

Shares of NYSE:MCD traded up $0.46 during midday trading on Thursday, hitting $313.38. The stock had a trading volume of 459,336 shares, compared to its average volume of 3,347,509. The company’s 50-day moving average price is $292.77 and its 200-day moving average price is $273.19. The company has a market capitalization of $225.85 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $315.36.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.17 earnings per share. Research analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.26%. McDonald’s’s payout ratio is 60.10%.

McDonald’s 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.