McDonald’s Co. (NYSE:MCD) Stake Reduced by Indiana Trust & Investment Management CO

Indiana Trust & Investment Management CO reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 3.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 4,987 shares of the fast-food giant’s stock after selling 175 shares during the period. Indiana Trust & Investment Management CO’s holdings in McDonald’s were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Roffman Miller Associates Inc. PA lifted its holdings in shares of McDonald’s by 1.7% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after buying an additional 2,546 shares during the period. Shulman DeMeo Asset Management LLC lifted its holdings in shares of McDonald’s by 12.2% in the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after buying an additional 114 shares during the period. Aigen Investment Management LP acquired a new stake in shares of McDonald’s in the fourth quarter valued at $4,286,000. Strait & Sound Wealth Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at $211,000. Finally, First National Bank of Mount Dora Trust Investment Services lifted its holdings in shares of McDonald’s by 2.8% in the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after buying an additional 301 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

Shares of NYSE MCD traded down $3.33 during mid-day trading on Friday, reaching $254.84. 8,902,162 shares of the company traded hands, compared to its average volume of 3,430,136. The stock has a market cap of $183.66 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 2.90 and a beta of 0.71. The company’s fifty day moving average is $263.91 and its two-hundred day moving average is $279.67. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last announced its earnings results 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 net margin of 33.36% and a negative return on equity of 180.74%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the company earned $2.63 EPS. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts forecast that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.62%. McDonald’s’s payout ratio is 56.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MCD shares. UBS Group cut their price objective on McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a report on Friday, April 5th. Morgan Stanley reduced their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Wedbush reduced their target price on McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, April 26th. TD Cowen reaffirmed a “buy” rating and set a $305.00 target price on shares of McDonald’s in a report on Thursday, June 13th. Finally, Stifel Nicolaus reduced their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $315.14.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the 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 completion of the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other McDonald’s news, 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 value of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The disclosure for this sale can be found here. Insiders sold a total of 4,095 shares of company stock worth $1,100,625 in the last 90 days. 0.23% of the stock is 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.