Summit Trail Advisors LLC Cuts Stock Position in McDonald’s Co. (NYSE:MCD)

Summit Trail Advisors LLC trimmed its position in McDonald’s Co. (NYSE:MCD) by 29.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,788 shares of the fast-food giant’s stock after selling 1,588 shares during the period. Summit Trail Advisors LLC’s holdings in McDonald’s were worth $965,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the 1st quarter worth approximately $28,000. Clear Investment Research LLC purchased a new position in McDonald’s in the fourth quarter worth $38,000. Kings Path Partners LLC purchased a new position in McDonald’s in the second quarter worth $38,000. Accent Capital Management LLC purchased a new stake in shares of McDonald’s during the 4th quarter worth $44,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of McDonald’s during the 4th quarter worth $45,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

NYSE MCD opened at $296.83 on Monday. The company has a market cap of $213.92 billion, a P/E ratio of 25.20, a P/E/G ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The company has a 50-day moving average of $277.30 and a 200-day moving average of $270.57.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $3.17 EPS. As a group, equities research analysts anticipate that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s payout ratio is currently 56.71%.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,193 shares of company stock valued at $1,403,593. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. TD Cowen lowered McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the stock from $285.00 to $280.00 in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Finally, Stifel Nicolaus cut their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $306.11.

About McDonald’s

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.