Plimoth Trust Co. LLC Has $4.70 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Plimoth Trust Co. LLC lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 1.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,449 shares of the fast-food giant’s stock after selling 327 shares during the quarter. McDonald’s comprises 1.3% of Plimoth Trust Co. LLC’s holdings, making the stock its 22nd biggest position. Plimoth Trust Co. LLC’s holdings in McDonald’s were worth $4,702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of McDonald’s in the fourth quarter worth $2,684,899,000. Gallagher Fiduciary Advisors LLC grew its position in McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after acquiring an additional 5,609,736 shares during the last quarter. Capital Research Global Investors grew its position in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Swedbank AB bought a new position in McDonald’s in the first quarter valued at about $348,206,000. Finally, Capital World Investors grew its position in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD traded down $0.36 during midday trading on Thursday, hitting $289.35. 1,740,645 shares of the stock traded hands, compared to its average volume of 3,563,148. The company has a market cap of $208.53 billion, a PE ratio of 24.56, a P/E/G ratio of 3.58 and a beta of 0.71. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The business has a 50 day moving average price of $261.43 and a two-hundred day moving average price of $270.98.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $3.17 earnings per share. As a group, equities research analysts forecast that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,695 shares of company stock worth $943,113. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Barclays cut their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. JPMorgan Chase & Co. cut their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Finally, TD Cowen lowered McDonald’s from a “buy” rating to a “hold” rating and cut their price target for the company from $285.00 to $280.00 in a research note on Wednesday, July 31st. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.71.

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.