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

Plimoth Trust Co. LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,632 shares of the fast-food giant’s stock after selling 817 shares during the period. McDonald’s comprises about 1.4% of Plimoth Trust Co. LLC’s holdings, making the stock its 21st largest holding. Plimoth Trust Co. LLC’s holdings in McDonald’s were worth $5,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Research Global Investors raised its position in 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. Swedbank AB purchased a new position in shares of McDonald’s during the first quarter valued at approximately $348,206,000. Capital World Investors raised its holdings in shares of 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 valued at $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Mondrian Investment Partners LTD purchased a new stake in McDonald’s in the second quarter worth $110,321,000. Finally, National Bank of Canada FI boosted its holdings in McDonald’s by 56.2% in the first quarter. National Bank of Canada FI now owns 1,123,132 shares of the fast-food giant’s stock valued at $308,878,000 after acquiring an additional 403,958 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 0.5 %

NYSE MCD traded down $1.67 during trading hours on Monday, hitting $314.89. 2,403,586 shares of the company’s stock traded hands, compared to its average volume of 3,352,092. The business’s fifty day moving average price is $294.62 and its two-hundred day moving average price is $273.69. The firm has a market capitalization of $226.94 billion, a P/E ratio of 26.76, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

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

McDonald’s Increases Dividend

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

Insider Buying and Selling

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. The trade was 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 the SEC website. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the 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 sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MCD. JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. UBS Group upped their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Tigress Financial raised their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Barclays reduced their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Ten research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $318.59.

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.