Sierra Summit Advisors LLC Acquires 77 Shares of McDonald’s Co. (NYSE:MCD)

Sierra Summit Advisors LLC grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,660 shares of the fast-food giant’s stock after acquiring an additional 77 shares during the period. Sierra Summit Advisors LLC’s holdings in McDonald’s were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the 1st quarter valued at about $28,000. Clear Investment Research LLC bought a new stake in McDonald’s in the fourth quarter valued at approximately $38,000. Kings Path Partners LLC acquired a new stake in McDonald’s during the 2nd quarter valued at approximately $38,000. Accent Capital Management LLC bought a new position in McDonald’s during the 4th quarter worth approximately $44,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. Insiders sold a total of 6,291 shares of company stock worth $1,689,073 in the last quarter. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 1.4 %

Shares of McDonald’s stock opened at $296.53 on Monday. The business’s fifty day simple moving average is $272.89 and its 200 day simple moving average is $270.47. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The firm has a market capitalization of $213.70 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.17 earnings per share. Analysts predict that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCD. Tigress Financial lifted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and dropped their price objective for the company from $285.00 to $280.00 in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. The Goldman Sachs Group started coverage on shares of McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.37.

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.