Sierra Summit Advisors LLC Purchases 77 Shares of McDonald’s Co. (NYSE:MCD)

Sierra Summit Advisors LLC increased its position in shares of McDonald’s Co. (NYSE:MCD) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,660 shares of the fast-food giant’s stock after acquiring an additional 77 shares during the period. Sierra Summit Advisors LLC’s holdings in McDonald’s were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the first quarter worth $28,000. Clear Investment Research LLC bought a new position in McDonald’s in the 4th quarter worth about $38,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the 2nd quarter valued at about $38,000. Accent Capital Management LLC bought a new stake in shares of McDonald’s during the 4th quarter valued at about $44,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of McDonald’s during the fourth quarter worth about $45,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Up 1.4 %

Shares of McDonald’s stock opened at $296.53 on Monday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The company has a market cap of $213.70 billion, a P/E ratio of 25.17, a PEG ratio of 3.88 and a beta of 0.72. The company’s fifty day simple moving average is $272.89 and its two-hundred day simple moving average is $270.47.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the firm earned $3.17 EPS. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. Analysts predict that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. Insiders sold a total of 6,291 shares of company stock worth $1,689,073 in the last quarter. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on MCD. Evercore ISI raised their target price on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Tigress Financial raised their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Wedbush reiterated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Barclays cut their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.37.

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.