Summitry LLC Has $6.42 Million Stake in McDonald’s Corporation $MCD

Summitry LLC grew its stake in shares of McDonald’s Corporation (NYSE:MCD) by 9.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 21,963 shares of the fast-food giant’s stock after buying an additional 1,806 shares during the period. Summitry LLC’s holdings in McDonald’s were worth $6,417,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. WealthPlan Investment Management LLC lifted its position in shares of McDonald’s by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after acquiring an additional 32 shares during the period. Security Financial Services INC. raised its stake in shares of McDonald’s by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock valued at $1,575,000 after purchasing an additional 33 shares in the last quarter. AGP Franklin LLC lifted its position in McDonald’s by 0.4% in the first quarter. AGP Franklin LLC now owns 10,001 shares of the fast-food giant’s stock worth $3,125,000 after purchasing an additional 35 shares during the period. WealthTrust Axiom LLC boosted its stake in McDonald’s by 1.8% during the first quarter. WealthTrust Axiom LLC now owns 1,946 shares of the fast-food giant’s stock worth $608,000 after buying an additional 35 shares in the last quarter. Finally, Certior Financial Group LLC increased its holdings in McDonald’s by 2.6% in the 1st quarter. Certior Financial Group LLC now owns 1,367 shares of the fast-food giant’s stock valued at $427,000 after buying an additional 35 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of MCD opened at $306.74 on Friday. The company has a market cap of $218.45 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.23 and a beta of 0.50. The stock has a fifty day moving average price of $303.37 and a two-hundred day moving average price of $304.64. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the company posted $3.23 EPS. McDonald’s’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, December 1st. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is 63.48%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. KeyCorp restated an “overweight” rating and set a $335.00 price target on shares of McDonald’s in a research note on Monday, October 20th. Guggenheim lowered their price objective on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a report on Friday, October 31st. Finally, Truist Financial decreased their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $323.91.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the sale, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 15,134 shares of company stock valued at $4,570,716. Insiders own 0.25% of the company’s stock.

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.