Summit Investment Advisors Inc. Has $3.78 Million Position in McDonald’s Co. (NYSE:MCD)

Summit Investment Advisors Inc. increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,026 shares of the fast-food giant’s stock after buying an additional 624 shares during the period. Summit Investment Advisors Inc.’s holdings in McDonald’s were worth $3,776,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MCD. Boltwood Capital Management grew its stake in shares of McDonald’s by 1.9% in the fourth quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock worth $546,000 after acquiring an additional 35 shares during the period. Pettee Investors Inc. grew its position in McDonald’s by 0.7% in the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after purchasing an additional 35 shares during the period. Covestor Ltd lifted its holdings in shares of McDonald’s by 4.1% during the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock valued at $261,000 after buying an additional 35 shares during the period. Modus Advisors LLC grew its holdings in shares of McDonald’s by 0.4% in the fourth quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant’s stock worth $2,724,000 after acquiring an additional 36 shares during the period. Finally, Independent Wealth Network Inc. increased its position in McDonald’s by 5.1% during the fourth quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock valued at $213,000 after acquiring an additional 36 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the sale, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,497 shares of company stock worth $8,461,400. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of several research reports. Truist Financial dropped their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler cut their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Robert W. Baird decreased their price target on shares of McDonald’s from $310.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Loop Capital reissued a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research report on Friday, January 3rd. Finally, 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 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 given a strong buy rating to the stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $322.87.

McDonald’s Trading Up 1.0 %

Shares of McDonald’s stock opened at $309.84 on Monday. The firm has a market cap of $221.37 billion, a PE ratio of 27.20, a PEG ratio of 3.10 and a beta of 0.62. The stock has a 50 day moving average of $306.10 and a 200 day moving average of $299.00. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 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, equities research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 2.29%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

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.