Plimoth Trust Co. LLC Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Plimoth Trust Co. LLC trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,428 shares of the fast-food giant’s stock after selling 204 shares during the period. McDonald’s comprises approximately 1.3% of Plimoth Trust Co. LLC’s portfolio, making the stock its 19th largest holding. Plimoth Trust Co. LLC’s holdings in McDonald’s were worth $5,052,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in McDonald’s in the third quarter worth approximately $25,000. RPg Family Wealth Advisory LLC bought a new stake in McDonald’s during the 3rd quarter valued at $31,000. Hara Capital LLC bought a new stake in McDonald’s during the 3rd quarter valued at $44,000. Peterson Financial Group Inc. bought a new stake in McDonald’s during the 3rd quarter valued at $58,000. Finally, FSA Wealth Management LLC bought a new stake in McDonald’s during the 3rd quarter valued at $72,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on MCD shares. Evercore ISI increased their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. UBS Group increased their target price on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Citigroup increased their target price on McDonald’s from $334.00 to $336.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Truist Financial decreased their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.87.

McDonald’s Stock Up 0.4 %

Shares of NYSE:MCD traded up $1.10 during trading on Wednesday, reaching $292.25. 237,672 shares of the company’s stock traded hands, compared to its average volume of 2,969,651. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a market cap of $209.43 billion, a PE ratio of 25.69, a P/E/G ratio of 3.66 and a beta of 0.73. The company has a 50-day simple moving average of $291.12 and a 200-day simple moving average of $289.23.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the firm earned $3.19 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that McDonald’s Co. will post 11.72 EPS for the current year.

Insider Activity

In other news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. The trade was a 49.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,905 shares of company stock worth $2,592,327 in the last ninety days. Company insiders own 0.23% of the company’s stock.

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.