McDonald’s Corporation (NYSE:MCD) Stock Position Decreased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,433 shares of the fast-food giant’s stock after selling 278 shares during the period. Penobscot Investment Management Company Inc.’s holdings in McDonald’s were worth $3,259,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MCD. Norges Bank acquired a new position in McDonald’s during the 4th quarter valued at about $2,725,190,000. GAMMA Investing LLC boosted its stake in McDonald’s by 39,039.7% during the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock valued at $1,092,645,000 after purchasing an additional 3,488,982 shares during the period. Raymond James Financial Inc. acquired a new position in McDonald’s during the 4th quarter valued at about $703,074,000. Castlekeep Investment Advisors LLC acquired a new position in McDonald’s during the 4th quarter valued at about $350,935,000. Finally, Northern Trust Corp boosted its stake in McDonald’s by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after purchasing an additional 895,896 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the sale, the insider now owns 10,222 shares in the company, valued at $2,949,251.44. The trade was a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 2,817 shares of company stock worth $865,843 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Price Performance

NYSE MCD opened at $285.78 on Thursday. The company’s 50 day simple moving average is $309.13 and its 200 day simple moving average is $302.60. McDonald’s Corporation has a 12 month low of $243.53 and a 12 month high of $326.32. The company has a market capitalization of $204.34 billion, a P/E ratio of 25.22, a PEG ratio of 3.04 and a beta of 0.56.

McDonald’s (NYSE:MCD) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts’ consensus estimates of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the previous year, the firm earned $2.70 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.48%. McDonald’s’s payout ratio is currently 62.49%.

Analysts Set New Price Targets

A number of research firms have issued reports on MCD. Barclays boosted their target price on shares of McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Morgan Stanley reissued an “equal weight” rating and set a $324.00 target price (down from $329.00) on shares of McDonald’s in a research note on Monday, June 9th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Truist Financial set a $350.00 target price on shares of McDonald’s in a research note on Friday, May 2nd. Finally, Robert W. Baird boosted their target price on shares of McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, McDonald’s has an average rating of “Hold” and an average target price of $321.79.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.