Spinnaker Investment Group LLC Sells 493 Shares of McDonald’s Co. (NYSE:MCD)

Spinnaker Investment Group LLC trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 26.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,357 shares of the fast-food giant’s stock after selling 493 shares during the quarter. Spinnaker Investment Group LLC’s holdings in McDonald’s were worth $393,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MCD. Geode Capital Management LLC increased its position in McDonald’s by 1.4% during the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after buying an additional 220,365 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after acquiring an additional 128,800 shares during the last quarter. Legal & General Group Plc raised its stake in shares of McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after acquiring an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the transaction, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,605 shares of company stock worth $2,508,102 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $284.49 on Friday. The business has a 50 day simple moving average of $291.49 and a 200 day simple moving average of $287.90. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a market capitalization of $203.87 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 EPS. Equities analysts anticipate that McDonald’s Co. will post 11.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCD. Citigroup raised shares of McDonald’s from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $311.00 to $334.00 in a report on Friday, January 10th. Evercore ISI raised their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target of $321.22.

McDonald’s Company 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.