Summit X LLC Has $1.67 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Summit X LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCDFree Report) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,642 shares of the fast-food giant’s stock after selling 99 shares during the quarter. Summit X LLC’s holdings in McDonald’s were worth $1,673,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth approximately $31,000. Spartan Planning & Wealth Management acquired a new stake in shares of McDonald’s during the 3rd quarter valued at $33,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of McDonald’s during the 4th quarter valued at $39,000. Keener Financial Planning LLC acquired a new position in shares of McDonald’s in the fourth quarter worth $39,000. Finally, Bear Mountain Capital Inc. acquired a new position in shares of McDonald’s in the fourth quarter worth $43,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Insiders sold a total of 2,997 shares of company stock valued at $836,300 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD traded down $1.13 during trading hours on Friday, hitting $272.38. 2,454,570 shares of the company’s stock were exchanged, compared to its average volume of 3,564,655. The company’s 50-day moving average price is $275.14 and its 200-day moving average price is $283.50. The stock has a market capitalization of $196.30 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 3.04 and a beta of 0.71. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $2.63 EPS. On average, research analysts expect that McDonald’s Co. will post 12.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on MCD. Robert W. Baird lowered their target price on McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Citigroup lowered their target price on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. BMO Capital Markets lowered their target price on McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus lowered their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.74.

Check Out Our Latest Analysis on MCD

McDonald’s Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Co. (NYSE:MCDFree Report).

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.