Summit Financial LLC Buys 963 Shares of McDonald's Co. (NYSE:MCD)

Summit Financial LLC increased its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,470 shares of the fast-food giant's stock after acquiring an additional 963 shares during the period. Summit Financial LLC's holdings in McDonald's were worth $5,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in McDonald's in the 3rd quarter valued at approximately $25,000. Atala Financial Inc acquired a new position in McDonald's in the 4th quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA acquired a new position in McDonald's in the 4th quarter valued at approximately $27,000. Collier Financial acquired a new position in shares of McDonald's during the fourth quarter worth $29,000. Finally, Fairway Wealth LLC grew its stake in shares of McDonald's by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 70.29% of the company's stock.

Insider Activity at McDonald's

In other McDonald's news, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares in the company, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tiffanie L. Boyd sold 1,000 shares of McDonald's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total value of $309,270.00. Following the sale, the executive vice president now owns 5,564 shares in the company, valued at $1,720,778.28. This trade represents a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,996 shares of company stock valued at $8,897,534. 0.23% of the stock is owned by insiders.

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McDonald's Stock Performance

Shares of McDonald's stock traded up $1.20 during trading hours on Tuesday, reaching $313.57. The company's stock had a trading volume of 2,411,214 shares, compared to its average volume of 3,503,734. The stock's fifty day simple moving average is $302.16 and its two-hundred day simple moving average is $298.35. The company has a market capitalization of $224.03 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.10 and a beta of 0.71. McDonald's Co. has a one year low of $243.53 and a one year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) 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%. As a group, research analysts forecast that McDonald's Co. will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.26%. McDonald's's payout ratio is 62.16%.

Wall Street Analysts Forecast Growth

MCD has been the subject of several analyst reports. Bank of America raised their target price on McDonald's from $312.00 to $316.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Morgan Stanley cut their price objective on McDonald's from $340.00 to $335.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Loop Capital reissued a "buy" rating and set a $342.00 target price on shares of McDonald's in a research report on Friday, January 3rd. Barclays boosted their price target on shares of McDonald's from $347.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, Robert W. Baird increased their price objective on shares of McDonald's from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $323.61.

About McDonald's

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.