Penobscot Investment Management Company Inc. Grows Stock Holdings in McDonald’s Co. (NYSE:MCD)

Penobscot Investment Management Company Inc. increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,456 shares of the fast-food giant’s stock after purchasing an additional 361 shares during the period. Penobscot Investment Management Company Inc.’s holdings in McDonald’s were worth $3,990,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MCD. Blue Bell Private Wealth Management LLC increased its holdings in McDonald’s by 51.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after buying an additional 42 shares during the last quarter. Spartan Planning & Wealth Management purchased a new stake in McDonald’s during the third quarter valued at approximately $33,000. Keener Financial Planning LLC bought a new position in shares of McDonald’s in the fourth quarter worth approximately $39,000. Bear Mountain Capital Inc. bought a new position in shares of McDonald’s in the fourth quarter worth approximately $43,000. Finally, Authentikos Wealth Advisory LLC bought a new position in shares of McDonald’s in the third quarter worth approximately $45,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

MCD traded down $0.42 during trading on Tuesday, reaching $273.13. 3,891,854 shares of the company’s stock were exchanged, compared to its average volume of 3,276,508. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39. The stock has a market capitalization of $196.93 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71. The company’s fifty day simple moving average is $281.31 and its 200-day simple moving average is $282.15.

McDonald’s (NYSE:MCD) last posted 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). The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $2.63 earnings per share. Equities analysts forecast that McDonald’s Co. will post 12.34 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.45%. The ex-dividend date was Thursday, February 29th. McDonald’s’s payout ratio is presently 57.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of McDonald’s in a research report on Friday, January 5th. BTIG Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Stifel Nicolaus dropped their target price on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Royal Bank of Canada dropped their target price on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Finally, Robert W. Baird restated an “outperform” rating and set a $315.00 target price on shares of McDonald’s in a research report on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $318.41.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were 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 of the company’s stock, valued at approximately $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction 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 sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

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.