Penobscot Investment Management Company Inc. Has $3.11 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Penobscot Investment Management Company Inc. cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,711 shares of the fast-food giant’s stock after selling 632 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in McDonald’s were worth $3,105,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in McDonald’s during the 4th quarter valued at $703,074,000. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of McDonald’s by 542.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after acquiring an additional 677,139 shares during the period. Proficio Capital Partners LLC lifted its position in McDonald’s by 43,591.6% in the fourth quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock worth $171,241,000 after purchasing an additional 589,359 shares during the period. Vanguard Group Inc. boosted its stake in McDonald’s by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after buying an additional 526,466 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in McDonald’s by 518.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 348,119 shares of the fast-food giant’s stock valued at $100,916,000 after buying an additional 291,802 shares during the period. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MCD. Morgan Stanley dropped their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Piper Sandler decreased their price target on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Citigroup upped their price target on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Barclays raised their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, KeyCorp upped their target price on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.39.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at $10,155,997.80. This represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,405 shares of company stock valued at $9,886,656 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.4 %

MCD opened at $307.01 on Wednesday. The company has a fifty day simple moving average of $299.72 and a 200 day simple moving average of $297.78. The stock has a market cap of $219.35 billion, a P/E ratio of 26.95, a P/E/G ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. On average, equities research analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

McDonald’s 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.