Summit Securities Group LLC Purchases New Stake in McDonald’s Co. (NYSE:MCD)

Summit Securities Group LLC acquired a new position in McDonald’s Co. (NYSE:MCD) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 200 shares of the fast-food giant’s stock, valued at approximately $58,000.

Several other institutional investors have also recently added to or reduced their stakes in MCD. Vanguard Group Inc. grew its position in shares of McDonald’s by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock valued at $20,341,391,000 after buying an additional 526,466 shares during the last quarter. Geode Capital Management LLC boosted its stake in McDonald’s by 1.4% in the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after acquiring an additional 220,365 shares during the period. Wellington Management Group LLP grew its holdings in shares of McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after purchasing an additional 128,800 shares during the last quarter. Norges Bank acquired a new stake in shares of McDonald’s during the 4th quarter worth approximately $2,725,190,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of McDonald’s by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock worth $1,682,473,000 after purchasing an additional 52,195 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tiffanie L. Boyd sold 1,000 shares of McDonald’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the sale, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. The trade was a 15.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,996 shares of company stock worth $8,897,534. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Performance

McDonald’s stock opened at $306.95 on Monday. The company has a 50 day moving average price of $301.52 and a 200 day moving average price of $298.20. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The firm has a market capitalization of $219.31 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 3.10 and a beta of 0.71.

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

McDonald’s Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MCD shares. Morgan Stanley lowered their price objective on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Bank of America upped their price target on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. TD Securities reiterated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research report on Monday, February 10th. Citigroup upped their target price on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Truist Financial cut their price target on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Company 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.