Suffolk Capital Management LLC Sells 1,134 Shares of McDonald's Co. (MCD)

Suffolk Capital Management LLC reduced its position in shares of McDonald's Co. (NYSE:MCD) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,835 shares of the fast-food giant’s stock after selling 1,134 shares during the period. McDonald's accounts for approximately 1.8% of Suffolk Capital Management LLC’s holdings, making the stock its 26th biggest position. Suffolk Capital Management LLC’s holdings in McDonald's were worth $13,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of McDonald's during the 2nd quarter worth $322,000. Phocas Financial Corp. bought a new stake in shares of McDonald's during the 2nd quarter worth $107,000. Proficio Capital Partners LLC boosted its holdings in shares of McDonald's by 0.7% during the 2nd quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock worth $117,000 after buying an additional 5 shares during the period. Howe & Rusling Inc. boosted its holdings in shares of McDonald's by 75.0% during the 3rd quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock worth $132,000 after buying an additional 360 shares during the period. Finally, Acrospire Investment Management LLC bought a new stake in shares of McDonald's during the 2nd quarter worth $153,000. 67.28% of the stock is owned by institutional investors and hedge funds.

In other news, VP James R. Sappington sold 8,046 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $165.00, for a total value of $1,327,590.00. Following the completion of the transaction, the vice president now owns 15,739 shares in the company, valued at approximately $2,596,935. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen Easterbrook sold 171,577 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $168.32, for a total transaction of $28,879,840.64. Following the completion of the transaction, the insider now owns 49,778 shares of the company’s stock, valued at approximately $8,378,632.96. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

MCD has been the subject of several recent analyst reports. Wells Fargo & Co set a $185.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a report on Wednesday, October 25th. Royal Bank of Canada set a $190.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a report on Thursday, December 21st. Deutsche Bank set a $185.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a report on Friday, October 20th. Canaccord Genuity reaffirmed a “hold” rating and set a $170.00 price objective on shares of McDonald's in a report on Friday, October 6th. Finally, Goldman Sachs Group set a $180.00 price target on shares of McDonald's and gave the company a “buy” rating in a report on Tuesday, December 12th. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $178.88.

McDonald's Co. (NYSE:MCD) opened at $173.57 on Friday. McDonald's Co. has a one year low of $119.82 and a one year high of $175.78. The stock has a market cap of $138,367.58, a price-to-earnings ratio of 27.12, a PEG ratio of 2.75 and a beta of 0.67. The company has a quick ratio of 1.27, a current ratio of 1.28 and a debt-to-equity ratio of -8.17.

McDonald's (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.01. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The business’s revenue was down 10.4% on a year-over-year basis. sell-side analysts forecast that McDonald's Co. will post 6.53 earnings per share for the current year.

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About McDonald's

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

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

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