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

Chemung Canal Trust Co. increased its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,613 shares of the fast-food giant's stock after buying an additional 1,685 shares during the quarter. McDonald's comprises about 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 filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCD. Brighton Jones LLC boosted its stake in shares of McDonald's by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock valued at $2,692,000 after buying an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of 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 in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of McDonald's by 15.3% in 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 position in shares of McDonald's by 0.9% during the 4th quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock valued at $4,255,000 after acquiring an additional 136 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in shares of McDonald's by 50.7% during the 4th quarter. Proficio Capital Partners LLC now owns 2,038 shares of the fast-food giant's stock valued at $591,000 after acquiring an additional 686 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

MCD traded up $6.34 during trading on Thursday, hitting $299.36. The company's stock had a trading volume of 2,274,307 shares, compared to its average volume of 3,527,013. The firm's 50 day moving average price is $304.66 and its 200-day moving average price is $302.39. The stock has a market cap of $214.05 billion, a PE ratio of 26.39, a PEG ratio of 3.04 and a beta of 0.53. McDonald's Corporation has a twelve month low of $245.90 and a twelve month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. The business 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 business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.70 EPS. Equities analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

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

Insider Activity at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction 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 completion of the sale, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. This represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 2,817 shares of company stock worth $865,843. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of research reports. Truist Financial lifted their price target on shares of McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a research report on Wednesday. KeyCorp reduced their price target on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Robert W. Baird lifted their price target on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target for the company in a research report on Thursday. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $324.00 price target (down from $329.00) on shares of McDonald's in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, McDonald's has a consensus rating of "Hold" and an average target price of $322.29.

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.