Canandaigua National Bank & Trust Co. Acquires 1,275 Shares of McDonald's Corporation $MCD

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in McDonald's Corporation by 3.9%, owning a total of 33,558 shares worth approximately $9.8 million.
• McDonald's reported a quarterly earnings per share of $3.19, surpassing the consensus estimate by $0.04, with revenues of $6.84 billion during the quarter.
• The company announced a quarterly dividend of $1.77, which will be paid on September 16th, resulting in a 2.3% yield.

Canandaigua National Bank & Trust Co. raised its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,558 shares of the fast-food giant's stock after purchasing an additional 1,275 shares during the period. McDonald's comprises approximately 0.9% of Canandaigua National Bank & Trust Co.'s holdings, making the stock its 21st largest holding. Canandaigua National Bank & Trust Co.'s holdings in McDonald's were worth $9,805,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Brighton Jones LLC raised its stake in shares of McDonald's by 21.6% in 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. Revolve Wealth Partners LLC increased its holdings in McDonald's by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock valued at $563,000 after buying an additional 52 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in McDonald's by 15.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock valued at $60,722,000 after buying an additional 27,774 shares in the last quarter. GHE LLC lifted its holdings in McDonald's by 0.9% during the 4th quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock worth $4,255,000 after buying an additional 136 shares during the last quarter. Finally, Triumph Capital Management bought a new position in McDonald's during the 4th quarter worth approximately $331,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McDonald's

In related news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares of the company's stock, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,341 shares of company stock worth $2,544,327 in the last ninety days. Company insiders own 0.25% of the company's stock.

McDonald's Trading Up 0.2%

MCD stock traded up $0.71 during mid-day trading on Friday, reaching $301.85. 2,107,555 shares of the stock traded hands, compared to its average volume of 3,531,935. The stock's fifty day moving average is $306.01 and its 200-day moving average is $306.47. The company has a market cap of $215.40 billion, a P/E ratio of 25.88, a P/E/G ratio of 3.11 and a beta of 0.50. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The firm's revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald's's dividend payout ratio (DPR) is 60.67%.

Wall Street Analyst Weigh In

MCD has been the topic of several research reports. Guggenheim reissued a "neutral" rating on shares of McDonald's in a research report on Friday, August 8th. Morgan Stanley increased their target price on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Bank of America dropped their price objective on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. lifted their target price on McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, McDonald's has an average rating of "Hold" and a consensus target price of $325.86.

McDonald's 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.