Summit Wealth Partners LLC Boosts Holdings in McDonald’s Co. (NYSE:MCD)

Summit Wealth Partners LLC grew its position in McDonald’s Co. (NYSE:MCD) by 24.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 871 shares of the fast-food giant’s stock after buying an additional 171 shares during the period. Summit Wealth Partners LLC’s holdings in McDonald’s were worth $253,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MCD. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s during the 3rd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC acquired a new stake in McDonald’s during the 3rd quarter worth approximately $31,000. Hara Capital LLC acquired a new stake in McDonald’s during the 3rd quarter worth approximately $44,000. Financial Life Planners acquired a new stake in McDonald’s during the 4th quarter worth approximately $49,000. Finally, Peterson Financial Group Inc. acquired a new stake in McDonald’s during the 3rd quarter worth approximately $58,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the transaction, the insider now owns 8,187 shares in the company, valued at $2,383,235.70. This trade represents a 11.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock valued at $2,150,857 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 0.4 %

McDonald’s stock opened at $288.49 on Thursday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The firm has a fifty day moving average of $290.88 and a 200-day moving average of $290.38. The firm has a market capitalization of $206.74 billion, a P/E ratio of 25.33, a PEG ratio of 3.83 and a beta of 0.74.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MCD shares. KeyCorp reduced their target price on shares of McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Truist Financial reduced their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America raised their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Finally, Barclays lifted their price target on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $319.57.

McDonald’s Profile

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.