Palisade Asset Management LLC boosted its holdings in shares of Mcdonald’s Corp (NYSE:MCD) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 52,234 shares of the fast-food giant’s stock after purchasing an additional 272 shares during the period. Mcdonald’s makes up approximately 1.5% of Palisade Asset Management LLC’s holdings, making the stock its 21st largest holding. Palisade Asset Management LLC’s holdings in Mcdonald’s were worth $10,322,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of MCD. Garrett Wealth Advisory Group LLC purchased a new position in shares of Mcdonald’s in the third quarter valued at approximately $30,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Mcdonald’s in the third quarter valued at approximately $30,000. Quantum Capital Management acquired a new stake in shares of Mcdonald’s in the third quarter valued at approximately $35,000. Vista Private Wealth Partners. LLC acquired a new stake in shares of Mcdonald’s in the third quarter valued at approximately $40,000. Finally, New Capital Management LP increased its holdings in shares of Mcdonald’s by 1,261.1% in the third quarter. New Capital Management LP now owns 3,008 shares of the fast-food giant’s stock valued at $48,000 after purchasing an additional 2,787 shares during the last quarter. Institutional investors own 67.23% of the company’s stock.
In other news, Director John W. Rogers, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $194.12 per share, with a total value of $194,120.00. Following the completion of the purchase, the director now owns 88,500 shares of the company’s stock, valued at approximately $17,179,620. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John J. Mulligan acquired 1,300 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $193.46 per share, with a total value of $251,498.00. Following the completion of the purchase, the director now directly owns 2,900 shares of the company’s stock, valued at approximately $561,034. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 7,380 shares of company stock valued at $1,430,223. 0.25% of the stock is owned by insiders.
MCD stock opened at $210.85 on Friday. The business has a fifty day moving average of $198.86 and a two-hundred day moving average of $206.37. The stock has a market cap of $156.13 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 2.90 and a beta of 0.45. Mcdonald’s Corp has a 52-week low of $173.41 and a 52-week high of $221.93.
Mcdonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 22nd. The fast-food giant reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.10). The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.47 billion. Mcdonald’s had a negative return on equity of 85.71% and a net margin of 28.09%. Mcdonald’s’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $2.10 EPS. As a group, analysts predict that Mcdonald’s Corp will post 7.84 EPS for the current fiscal year.
Several equities research analysts recently commented on MCD shares. UBS Group cut their price target on Mcdonald’s from $218.00 to $212.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Credit Suisse Group cut their price target on Mcdonald’s from $236.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on Mcdonald’s from $230.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Mcdonald’s in a report on Friday, December 6th. Finally, BTIG Research increased their price target on Mcdonald’s from $220.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $223.54.
Mcdonald’s Company Profile
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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