Norway Savings Bank Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

Norway Savings Bank reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,507 shares of the fast-food giant’s stock after selling 50 shares during the period. Norway Savings Bank’s holdings in McDonald’s were worth $1,271,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MCD. Atwater Malick LLC grew its position in McDonald’s by 1.0% during the 1st quarter. Atwater Malick LLC now owns 37,540 shares of the fast-food giant’s stock worth $10,584,000 after acquiring an additional 361 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of McDonald’s by 22.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 9,700 shares of the fast-food giant’s stock valued at $2,735,000 after buying an additional 1,793 shares during the period. Hengehold Capital Management LLC raised its position in shares of McDonald’s by 0.4% in the 1st quarter. Hengehold Capital Management LLC now owns 12,772 shares of the fast-food giant’s stock worth $3,601,000 after acquiring an additional 50 shares in the last quarter. Cypress Wealth Services LLC boosted its position in shares of McDonald’s by 31.6% during the first quarter. Cypress Wealth Services LLC now owns 1,025 shares of the fast-food giant’s stock valued at $289,000 after purchasing an additional 246 shares in the last quarter. Finally, Dohj LLC grew its position in shares of McDonald’s by 5.7% in the 1st quarter. Dohj LLC now owns 2,360 shares of the fast-food giant’s stock worth $665,000 after buying an additional 128 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the transaction, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,095 shares of company stock valued at $1,100,625. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. KeyCorp dropped their price target on McDonald’s from $315.00 to $310.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley reduced their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Wedbush cut their target price on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Argus reiterated a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $290.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $315.14.

McDonald’s Price Performance

Shares of NYSE MCD opened at $254.79 on Friday. The stock has a market capitalization of $183.62 billion, a P/E ratio of 21.63, a PEG ratio of 2.91 and a beta of 0.71. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39. The business’s 50 day moving average is $263.31 and its two-hundred day moving average is $279.28.

McDonald’s (NYSE:MCD) last released 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 company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.63 EPS. As a group, equities research analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.62%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

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.