Palisade Asset Management LLC Acquires 1,142 Shares of McDonald’s Co. (NYSE:MCD)

Palisade Asset Management LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,016 shares of the fast-food giant’s stock after purchasing an additional 1,142 shares during the quarter. McDonald’s accounts for approximately 1.6% of Palisade Asset Management LLC’s investment portfolio, making the stock its 18th biggest holding. Palisade Asset Management LLC’s holdings in McDonald’s were worth $14,830,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Ironwood Wealth Management LLC. raised its position in McDonald’s by 2.6% during the third quarter. Ironwood Wealth Management LLC. now owns 3,912 shares of the fast-food giant’s stock worth $1,031,000 after acquiring an additional 100 shares in the last quarter. BluePath Capital Management LLC bought a new stake in McDonald’s during the third quarter worth $166,000. Crescent Grove Advisors LLC increased its holdings in shares of McDonald’s by 12.1% in the third quarter. Crescent Grove Advisors LLC now owns 1,514 shares of the fast-food giant’s stock valued at $399,000 after purchasing an additional 164 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of McDonald’s by 10.4% in the third quarter. Brighton Jones LLC now owns 6,352 shares of the fast-food giant’s stock valued at $1,673,000 after purchasing an additional 600 shares during the last quarter. Finally, WESPAC Advisors LLC acquired a new position in shares of McDonald’s in the third quarter valued at $224,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several research reports. Guggenheim decreased their price objective on shares of McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays decreased their price objective on shares of McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Stifel Nicolaus decreased their price target on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Royal Bank of Canada decreased their price target on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Finally, UBS Group decreased their price target on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $317.74.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

NYSE MCD traded up $0.99 during trading hours on Wednesday, reaching $268.49. The company’s stock had a trading volume of 3,241,102 shares, compared to its average volume of 3,299,664. The firm has a fifty day simple moving average of $278.43 and a 200-day simple moving average of $282.90. The stock has a market cap of $193.58 billion, a P/E ratio of 22.74, a P/E/G ratio of 3.01 and a beta of 0.71. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The firm had revenue of $6.17 billion for 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 180.54%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.63 EPS. On average, research analysts expect that McDonald’s Co. will post 12.18 earnings per share for the current year.

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.