McDonald’s Co. (NYSE:MCD) Shares Purchased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 100.5% during the fourth quarter, HoldingsChannel reports. The fund owned 51,444 shares of the fast-food giant’s stock after buying an additional 25,790 shares during the period. McDonald’s comprises approximately 1.7% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Sawgrass Asset Management LLC’s holdings in McDonald’s were worth $15,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barlow Wealth Partners Inc. purchased a new stake in McDonald’s during the fourth quarter worth $1,412,000. Patrick M Sweeney & Associates Inc. purchased a new stake in McDonald’s during the fourth quarter worth $959,000. Sovereign Financial Group Inc. boosted its position in McDonald’s by 6.5% during the fourth quarter. Sovereign Financial Group Inc. now owns 2,403 shares of the fast-food giant’s stock worth $713,000 after purchasing an additional 146 shares in the last quarter. Sage Investment Advisers LLC boosted its position in McDonald’s by 19.1% during the fourth quarter. Sage Investment Advisers LLC now owns 991 shares of the fast-food giant’s stock worth $294,000 after purchasing an additional 159 shares in the last quarter. Finally, Palisade Asset Management LLC lifted its position in shares of McDonald’s by 2.3% in the fourth quarter. Palisade Asset Management LLC now owns 50,016 shares of the fast-food giant’s stock valued at $14,830,000 after acquiring an additional 1,142 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD traded up $1.04 during trading hours on Wednesday, hitting $268.54. 3,258,983 shares of the company were exchanged, compared to its average volume of 3,309,299. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The company has a market cap of $193.62 billion, a PE ratio of 22.80, a PEG ratio of 3.01 and a beta of 0.71. The firm’s 50 day moving average is $278.43 and its 200-day moving average is $282.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period in the prior year, the firm posted $2.63 EPS. McDonald’s’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts forecast that McDonald’s Co. will post 12.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Stifel Nicolaus reduced their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Argus reiterated a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. Finally, Robert W. Baird reduced their target price on McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $317.74.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly 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 available at this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the sale, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following 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. 0.23% of the stock is currently owned by company insiders.

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.