Summit Securities Group LLC Buys Shares of 200 McDonald’s Co. (NYSE:MCD)

Summit Securities Group LLC acquired a new position in McDonald’s Co. (NYSE:MCD) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 200 shares of the fast-food giant’s stock, valued at approximately $58,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of McDonald’s during the 4th quarter worth approximately $2,725,190,000. Raymond James Financial Inc. purchased a new position in McDonald’s during the fourth quarter worth $703,074,000. Proficio Capital Partners LLC increased its position in McDonald’s by 43,591.6% during the fourth quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock worth $171,241,000 after buying an additional 589,359 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of McDonald’s by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after acquiring an additional 526,466 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of McDonald’s by 518.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 348,119 shares of the fast-food giant’s stock valued at $100,916,000 after acquiring an additional 291,802 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCD shares. Bank of America boosted their target price on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Morgan Stanley cut their price objective on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Barclays increased their price target on McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, KeyCorp lifted their price objective on McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Price Performance

Shares of NYSE MCD opened at $306.95 on Monday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $326.32. The company has a market capitalization of $219.31 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.10 and a beta of 0.71. The business has a 50-day moving average of $301.52 and a 200-day moving average of $298.20.

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

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,996 shares of company stock valued at $8,897,534 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.