Canandaigua National Bank & Trust Co. Has $9.12 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Canandaigua National Bank & Trust Co. lifted its position in McDonald’s Co. (NYSE:MCD) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,344 shares of the fast-food giant’s stock after acquiring an additional 274 shares during the period. McDonald’s makes up approximately 1.3% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 15th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in McDonald’s were worth $9,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MCD. Signature Resources Capital Management LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $31,000. Spartan Planning & Wealth Management bought a new position in McDonald’s in the third quarter valued at approximately $33,000. Clear Investment Research LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $38,000. Keener Financial Planning LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $39,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $39,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,096 shares of company stock valued at $1,127,678. 0.23% of the stock is owned by company insiders.

McDonald’s Price Performance

MCD stock opened at $250.79 on Wednesday. The company has a fifty day moving average price of $265.25 and a two-hundred day moving average price of $280.88. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39. The stock has a market cap of $180.74 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 2.85 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.63 EPS. Research analysts anticipate that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.66%. McDonald’s’s payout ratio is presently 56.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MCD. Bank of America lowered their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. UBS Group lowered their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Citigroup lowered their price objective on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Finally, Argus reiterated a “hold” rating on shares of McDonald’s in a report on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $315.14.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.