Summit Financial LLC Acquires 963 Shares of McDonald’s Co. (NYSE:MCD)

Summit Financial LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,470 shares of the fast-food giant’s stock after acquiring an additional 963 shares during the period. Summit Financial LLC’s holdings in McDonald’s were worth $5,354,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Mattern Capital Management LLC grew its holdings in McDonald’s by 2.0% during the 4th quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock valued at $8,729,000 after buying an additional 579 shares in the last quarter. Bell Bank boosted its position in shares of McDonald’s by 3.0% during the fourth quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock worth $3,681,000 after acquiring an additional 371 shares during the last quarter. YANKCOM Partnership purchased a new position in McDonald’s during the fourth quarter valued at $1,628,000. Integral Investment Advisors Inc. increased its holdings in McDonald’s by 2.6% in the 4th quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant’s stock valued at $1,888,000 after acquiring an additional 164 shares during the last quarter. Finally, PFW Advisors LLC purchased a new stake in McDonald’s in the 4th quarter worth $2,471,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 300 shares of the firm’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 transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the sale, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. This trade represents a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,996 shares of company stock valued at $8,897,534. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 1.8 %

Shares of McDonald’s stock opened at $306.95 on Monday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The company has a market capitalization of $219.31 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The stock’s fifty day moving average is $301.52 and its two-hundred day moving average is $298.20.

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

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MCD shares. Erste Group Bank upgraded McDonald’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Piper Sandler cut their price target on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Wedbush lifted their price objective on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Bank of America increased their target price on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

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.