Chemung Canal Trust Co. Increases Stock Position in McDonald's Corporation (NYSE:MCD)

Chemung Canal Trust Co. grew its position in McDonald's Corporation (NYSE:MCD - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,613 shares of the fast-food giant's stock after buying an additional 1,685 shares during the period. McDonald's accounts for approximately 2.2% of Chemung Canal Trust Co.'s investment portfolio, making the stock its 13th largest position. Chemung Canal Trust Co.'s holdings in McDonald's were worth $9,875,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in McDonald's in the fourth quarter valued at approximately $25,000. Atala Financial Inc purchased a new stake in McDonald's in the fourth quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new stake in McDonald's in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC raised its position in McDonald's by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new stake in McDonald's in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Trading Up 1.9%

NYSE:MCD traded up $5.58 during midday trading on Thursday, hitting $298.60. 5,364,588 shares of the company were exchanged, compared to its average volume of 3,536,694. The company has a fifty day simple moving average of $304.35 and a 200 day simple moving average of $302.44. McDonald's Corporation has a fifty-two week low of $246.12 and a fifty-two week high of $326.32. The company has a market capitalization of $213.51 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter in the previous year, the business earned $2.70 earnings per share. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities research analysts expect that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. McDonald's's dividend payout ratio (DPR) is 62.49%.

Wall Street Analyst Weigh In

MCD has been the topic of several research reports. Argus cut shares of McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a research report on Thursday. BTIG Research reissued a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Morgan Stanley reiterated an "equal weight" rating and issued a $324.00 target price (down from $329.00) on shares of McDonald's in a report on Monday, June 9th. Finally, Northcoast Research lowered McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $322.29.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the transaction, the insider owned 10,222 shares in the company, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,817 shares of company stock worth $1,165,843. 0.25% of the stock is currently owned by 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.