McDonald’s Corporation (NYSE:MCD) Stock Position Lifted by Summit X LLC

Summit X LLC boosted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 0.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,151 shares of the fast-food giant’s stock after purchasing an additional 50 shares during the period. Summit X LLC’s holdings in McDonald’s were worth $1,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC raised its stake in shares of McDonald’s by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock valued at $1,788,000 after acquiring an additional 109 shares in the last quarter. Aviva PLC raised its position in McDonald’s by 5.6% in the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant’s stock worth $125,350,000 after purchasing an additional 23,024 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in McDonald’s by 5.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after purchasing an additional 18,393 shares in the last quarter. Sagespring Wealth Partners LLC increased its holdings in shares of McDonald’s by 22.9% during the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant’s stock worth $5,381,000 after buying an additional 3,212 shares in the last quarter. Finally, Segment Wealth Management LLC increased its holdings in shares of McDonald’s by 1.7% during the first quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant’s stock worth $17,078,000 after buying an additional 937 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.8%

NYSE MCD opened at $299.58 on Wednesday. The company’s 50-day moving average price is $303.49 and its 200-day moving average price is $302.63. The stock has a market cap of $214.21 billion, a PE ratio of 26.44, a PEG ratio of 3.15 and a beta of 0.53. McDonald’s Corporation has a 12 month low of $246.12 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the firm posted $2.70 EPS. McDonald’s’s revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is 62.49%.

Wall Street Analyst Weigh In

MCD has been the topic of several research analyst reports. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Northcoast Research cut McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Erste Group Bank downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. Redburn Atlantic reiterated a “sell” rating and issued a $260.00 price target (down from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Finally, Piper Sandler boosted their target price on shares of McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and an average price target of $319.48.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the sale, the insider owned 10,222 shares of the company’s stock, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,817 shares of company stock valued at $1,165,843. 0.25% of the stock is owned by insiders.

McDonald’s 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.