Ledyard National Bank Decreased Stake in Mcdonald’s Corp (NYSE:MCD) by $4.62 Million as Shares Rose


Ledyard National Bank decreased its stake in Mcdonald’s Corp (NYSE:MCD) by 87.81% based on its latest 2016Q2 regulatory filing with the SEC. Ledyard National Bank sold 36,997 shares as the company’s stock rose 6.89% with the market. The institutional investor held 5,138 shares of the restaurants company at the end of 2016Q2, valued at $646,000, down from 42,135 at the end of the previous reported quarter. Ledyard National Bank who had been investing in Mcdonald’s Corp for a number of months, seems to be less bullish one the $99.30 billion market cap company. The stock is down 0.83% or $0.96 after the negative news, hitting $114.99 per share. About 2.62 million shares traded hands. McDonald’s Corporation (NYSE:MCD) has declined 0.09% since February 8, 2016 and is downtrending. It has underperformed by 16.57% the S&P500.

Ledyard National Bank, which manages about $562.92M US Long portfolio, upped its stake in International Business Machines Corp (NYSE:IBM) by 22,065 shares to 32,321 shares, valued at $4.90 million in 2016Q2, according to the filing. It also increased its holding in Consumer Staples Select Sector Spdr Etf (XLP) by 76,350 shares in the quarter, for a total of 215,260 shares, and has risen its stake in Genuine Parts Co (NYSE:GPC).

The institutional sentiment decreased to 0.72 in Q2 2016. Its down 0.04, from 0.76 in 2016Q1. The ratio turned negative, as 105 funds sold all MCD shares owned while 619 reduced positions. 92 funds bought stakes while 432 increased positions. They now own 575.61 million shares or 9.50% less from 636.04 million shares in 2016Q1.

Obermeyer Wood Investment Counsel Lllp holds 5.28% of its portfolio in MCD for 441,223 shares. Highline Capital Management L.P. owns 969,300 shares or 4.44% of their US portfolio. Moreover, Ckw Financial Group has 4.32% invested in the company for 100,797 shares. The California-based Hoertkorn Richard Charles has invested 4.3% in the stock. Usa Financial Portformulas Corp, a Michigan-based fund reported 113,872 shares.

Out of 21 analysts covering McDonald’s Corporation (NYSE:MCD), 13 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 62% are positive. $142 is the highest target while $35 is the lowest. The $123.35 average target is 7.27% above today’s ($114.99) stock price. McDonald’s Corporation has been the topic of 50 analyst reports since September 29, 2015 according to StockzIntelligence Inc. Robert W. Baird upgraded the stock on August 30 to “Outperform” rating. Robert W. Baird maintained it with “Neutral” rating and $126 target price in a June 29 report. Credit Suisse maintained the shares of MCD in a report on July 27 with “Outperform” rating. Cowen & Co maintained the firm’s rating on April 25. Cowen & Co has “Market Perform” rating and $127 price target. Lastly, Deutsche Bank maintained the stock with “Buy” rating in an April 25 report.

McDonald’s Corporation operates and franchises McDonald’s restaurants. The company has a market cap of $99.30 billion. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. It has a 21.91 P/E ratio. The Company’s divisions include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate.

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