Sierra Summit Advisors LLC Sells 2,465 Shares of McDonald’s Corporation $MCD

Sierra Summit Advisors LLC lessened its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 48.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,667 shares of the fast-food giant’s stock after selling 2,465 shares during the quarter. Sierra Summit Advisors LLC’s holdings in McDonald’s were worth $810,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCD. Evergreen Private Wealth LLC lifted its holdings in shares of McDonald’s by 162.5% during the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after purchasing an additional 52 shares in the last quarter. Decker Retirement Planning Inc. increased its stake in McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in McDonald’s during the 2nd quarter worth approximately $25,000. Financial Gravity Companies Inc. bought a new position in McDonald’s in the second quarter valued at approximately $29,000. Finally, Traub Capital Management LLC acquired a new position in shares of McDonald’s in the second quarter valued at approximately $29,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Up 1.9%

Shares of McDonald’s stock opened at $340.85 on Monday. The stock has a market cap of $242.14 billion, a P/E ratio of 28.52, a P/E/G ratio of 3.03 and a beta of 0.51. McDonald’s Corporation has a 12-month low of $283.47 and a 12-month high of $341.35. The business’s 50 day moving average is $316.42 and its 200-day moving average is $310.29.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.07. McDonald’s had a net margin of 31.85% and a negative return on equity of 343.90%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the business earned $2.83 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, March 3rd. McDonald’s’s dividend payout ratio is presently 62.26%.

Insiders Place Their Bets

In other news, EVP Jonathan Banner sold 6,201 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $333.29, for a total value of $2,066,731.29. Following the completion of the sale, the executive vice president directly owned 2,291 shares of the company’s stock, valued at $763,567.39. This trade represents a 73.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 2,486 shares of McDonald’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the transaction, the executive vice president owned 6,268 shares of the company’s stock, valued at $2,005,760. This represents a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 71,517 shares of company stock worth $23,655,503 in the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of McDonald’s from $305.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. BMO Capital Markets restated an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. Jefferies Financial Group lifted their target price on McDonald’s from $360.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Wells Fargo & Company upped their price target on McDonald’s from $345.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, Truist Financial lifted their price objective on shares of McDonald’s from $356.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Sixteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $337.57.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.