Bangor Savings Bank Has $2.92 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Bangor Savings Bank cut its stake in McDonald’s Co. (NYSE:MCD) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,356 shares of the fast-food giant’s stock after selling 286 shares during the quarter. Bangor Savings Bank’s holdings in McDonald’s were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of McDonald’s by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 1,649 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of McDonald’s during the 4th quarter valued at $64,805,000. Revolve Wealth Partners LLC raised its holdings in shares of McDonald’s by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after purchasing an additional 52 shares in the last quarter. Silver Oak Securities Incorporated raised its holdings in shares of McDonald’s by 21.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 2,273 shares of the fast-food giant’s stock valued at $658,000 after purchasing an additional 407 shares in the last quarter. Finally, Consolidated Portfolio Review Corp bought a new position in shares of McDonald’s during the 4th quarter valued at $446,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MCD shares. Morgan Stanley cut their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $345.00 target price (up from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Wedbush raised their target price on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Robert W. Baird raised their target price on shares of McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, Truist Financial set a $350.00 target price on shares of McDonald’s in a research note on Friday, May 2nd. Thirteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $324.96.

McDonald’s Stock Down 0.5%

Shares of MCD stock opened at $307.44 on Friday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The company has a market capitalization of $219.83 billion, a P/E ratio of 26.99, a P/E/G ratio of 3.10 and a beta of 0.56. The firm has a 50-day moving average price of $312.29 and a 200 day moving average price of $302.66.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. As a group, research analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

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.