Chemung Canal Trust Co. Acquires 1,685 Shares of McDonald's Corporation (NYSE:MCD)

Chemung Canal Trust Co. raised its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 31,613 shares of the fast-food giant's stock after acquiring an additional 1,685 shares during the period. McDonald's makes up 2.2% of Chemung Canal Trust Co.'s holdings, making the stock its 13th largest position. Chemung Canal Trust Co.'s holdings in McDonald's were worth $9,875,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Red Door Wealth Management LLC raised its holdings in McDonald's by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after buying an additional 109 shares during the period. Aviva PLC increased its position in shares of McDonald's by 5.6% during the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock worth $125,350,000 after acquiring an additional 23,024 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of McDonald's by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock worth $107,867,000 after acquiring an additional 18,393 shares during the period. Sagespring Wealth Partners LLC lifted its position in McDonald's by 22.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock valued at $5,381,000 after acquiring an additional 3,212 shares in the last quarter. Finally, Segment Wealth Management LLC boosted its stake in McDonald's by 1.7% in the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock worth $17,078,000 after purchasing an additional 937 shares during the period. Institutional investors own 70.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MCD shares. Argus lowered McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Robert W. Baird upped their price target on McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. TD Securities reaffirmed a "hold" rating and set a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $322.29.

McDonald's Stock Performance

NYSE:MCD traded up $1.41 during mid-day trading on Friday, hitting $299.80. 4,494,100 shares of the stock were exchanged, compared to its average volume of 3,540,627. The firm's 50-day simple moving average is $304.35 and its 200 day simple moving average is $302.44. The stock has a market capitalization of $214.37 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. McDonald's Corporation has a fifty-two week low of $246.12 and a fifty-two week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last posted 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. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The company's revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 earnings per share. On average, analysts predict that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is 62.49%.

Insider Transactions at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the sale, the insider directly owned 10,222 shares in the company, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,817 shares of company stock valued at $1,165,843 in the last three months. Insiders own 0.25% of the company's stock.

About McDonald's

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.