Plimoth Trust Co. LLC Lowers Stock Position in McDonald’s Co. (NYSE:MCD)

Plimoth Trust Co. LLC reduced its position in McDonald’s Co. (NYSE:MCD) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,776 shares of the fast-food giant’s stock after selling 898 shares during the quarter. McDonald’s comprises about 1.4% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 18th biggest position. Plimoth Trust Co. LLC’s holdings in McDonald’s were worth $5,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the 1st quarter valued at $28,000. Signature Resources Capital Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $31,000. Spartan Planning & Wealth Management purchased a new stake in shares of McDonald’s during the 3rd quarter valued at about $33,000. Clear Investment Research LLC acquired a new position in McDonald’s during the 4th quarter worth approximately $38,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in McDonald’s in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MCD. Guggenheim reduced their target price on shares of McDonald’s from $315.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup decreased their price objective on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. KeyCorp dropped their target price on McDonald’s from $315.00 to $310.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. TD Cowen reiterated a “buy” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Thursday, June 13th. Finally, Truist Financial lowered their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $313.89.

McDonald’s Stock Down 0.9 %

Shares of NYSE:MCD opened at $247.79 on Wednesday. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The company has a market cap of $178.58 billion, a PE ratio of 21.03, a P/E/G ratio of 2.87 and a beta of 0.71. The company’s 50-day moving average price is $262.80 and its 200 day moving average price is $278.79.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% 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 quarter in the prior year, the firm posted $2.63 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s payout ratio is currently 56.71%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the sale, the insider now owns 15,878 shares in the company, valued at $4,209,734.14. The disclosure for this sale can be found here. Insiders sold 4,095 shares of company stock worth $1,100,625 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

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.