Summit Wealth Partners LLC Takes $213,000 Position in McDonald’s Co. (NYSE:MCD)

Summit Wealth Partners LLC acquired a new stake in shares of McDonald’s Co. (NYSE:MCD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 700 shares of the fast-food giant’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in McDonald’s by 3.1% during the first quarter. Van ECK Associates Corp now owns 16,166 shares of the fast-food giant’s stock worth $4,558,000 after buying an additional 484 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in McDonald’s by 9.3% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,917 shares of the fast-food giant’s stock worth $5,052,000 after buying an additional 1,525 shares during the period. BNP Paribas purchased a new position in McDonald’s during the first quarter worth $7,898,000. Montgomery Investment Management Inc. boosted its stake in McDonald’s by 2.5% during the first quarter. Montgomery Investment Management Inc. now owns 6,208 shares of the fast-food giant’s stock worth $1,750,000 after buying an additional 150 shares during the period. Finally, Fidelis Capital Partners LLC boosted its stake in McDonald’s by 18.6% during the first quarter. Fidelis Capital Partners LLC now owns 7,160 shares of the fast-food giant’s stock worth $2,019,000 after buying an additional 1,124 shares during the period. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Tigress Financial boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock worth $10,256,818 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $295.24 on Friday. The company has a market capitalization of $211.79 billion, a PE ratio of 25.92, a P/E/G ratio of 3.85 and a beta of 0.73. The company has a 50-day simple moving average of $298.36 and a two-hundred day simple moving average of $275.78. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Co. will post 11.78 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.40%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 58.65%.

McDonald’s Company 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.