McDonald’s Corporation $MCD Stock Position Decreased by Camden National Bank

Camden National Bank trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,535 shares of the fast-food giant’s stock after selling 857 shares during the quarter. McDonald’s makes up about 1.8% of Camden National Bank’s investment portfolio, making the stock its 17th largest holding. Camden National Bank’s holdings in McDonald’s were worth $12,427,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Decker Retirement Planning Inc. lifted its stake in McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s during the 2nd quarter valued at $25,000. HFM Investment Advisors LLC acquired a new stake in shares of McDonald’s in the 1st quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in McDonald’s in the first quarter worth $26,000. Finally, GFG Capital LLC acquired a new position in McDonald’s during the second quarter worth $29,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Friday, August 22nd. Barclays reduced their target price on McDonald’s from $362.00 to $358.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company upped their target price on McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and a consensus price target of $324.57.

McDonald’s Price Performance

MCD opened at $309.00 on Friday. The company has a market capitalization of $220.06 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.23 and a beta of 0.50. The firm’s fifty day moving average price is $302.96 and its two-hundred day moving average price is $304.36. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.23 earnings per share. On average, equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $1.86 dividend. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is currently 63.48%.

Insider Buying and Selling

In other McDonald’s news, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares in the company, valued at $1,383,734.52. This represents a 74.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. The trade was a 39.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 34,463 shares of company stock valued at $10,549,351. 0.25% of the stock is currently owned by corporate insiders.

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.