Plimoth Trust Co. LLC Sells 817 Shares of McDonald’s Co. (NYSE:MCD)

Plimoth Trust Co. LLC decreased its position in McDonald’s Co. (NYSE:MCD) by 4.4% during the third quarter, HoldingsChannel.com reports. The fund owned 17,632 shares of the fast-food giant’s stock after selling 817 shares during the quarter. McDonald’s comprises 1.4% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 21st biggest position. Plimoth Trust Co. LLC’s holdings in McDonald’s were worth $5,369,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc increased its stake in McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after acquiring an additional 188,888 shares during the last quarter. Capital Research Global Investors increased its position in shares of McDonald’s by 66.9% during the 1st 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 purchasing an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. lifted its position in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares during the last quarter. Capital World Investors boosted its stake in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares during the period. Finally, Fayez Sarofim & Co lifted its stake in McDonald’s by 0.4% in the first quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock worth $640,972,000 after purchasing an additional 8,475 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MCD shares. TD Cowen lifted their target price on McDonald’s from $280.00 to $300.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Truist Financial raised their price target on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley lifted their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $318.59.

McDonald’s Stock Performance

Shares of McDonald’s stock traded down $1.67 during trading on Monday, hitting $314.89. 2,403,586 shares of the company’s stock were exchanged, compared to its average volume of 3,352,092. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The stock has a market capitalization of $226.94 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 4.05 and a beta of 0.73. The business has a 50-day simple moving average of $294.62 and a 200-day simple moving average of $273.69.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $3.17 EPS. On average, equities analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Activity

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock valued at $10,221,233 in the last three months. 0.23% of the stock is currently owned by corporate 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.