Canandaigua National Bank & Trust Co. Invests $9.10 Million in McDonald’s Corporation $MCD

Canandaigua National Bank & Trust Co. acquired a new position in McDonald’s Corporation (NYSE:MCD) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 33,672 shares of the fast-food giant’s stock, valued at approximately $9,102,000. McDonald’s comprises 0.8% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 27th biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. Hamilton Point Investment Advisors LLC raised its holdings in shares of McDonald’s by 1.8% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 1,750 shares of the fast-food giant’s stock valued at $535,000 after buying an additional 31 shares during the last quarter. Encompass More Asset Management boosted its position in shares of McDonald’s by 1.5% during the fourth quarter. Encompass More Asset Management now owns 2,120 shares of the fast-food giant’s stock worth $648,000 after buying an additional 32 shares during the period. Richmond Investment Services LLC grew its holdings in McDonald’s by 1.4% in the 4th quarter. Richmond Investment Services LLC now owns 2,278 shares of the fast-food giant’s stock worth $696,000 after buying an additional 32 shares in the last quarter. Papamarkou Wellner Asset Management inc. grew its holdings in McDonald’s by 0.4% in the 4th quarter. Papamarkou Wellner Asset Management inc. now owns 8,809 shares of the fast-food giant’s stock worth $2,692,000 after buying an additional 32 shares in the last quarter. Finally, Physician Wealth Advisors Inc. increased its position in McDonald’s by 1.6% in the 4th quarter. Physician Wealth Advisors Inc. now owns 2,102 shares of the fast-food giant’s stock valued at $642,000 after acquiring an additional 33 shares during the period. 70.29% of the stock is currently owned by institutional investors.

More McDonald’s News

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: McDonald’s reported second-quarter adjusted earnings of $3.38 per share, above the $3.32 analyst consensus and up from $3.19 a year earlier. Stronger franchised margins and comparable-sales growth across its operating segments helped offset the revenue shortfall. McDonald’s Q2 Earnings Surpass Estimates
• Positive Sentiment: Global comparable sales increased roughly 4%, supported by international markets and record restaurant margins. The results suggest McDonald’s continues to generate resilient profitability outside the United States. McDonald’s Q2 Earnings Call Highlights
• Positive Sentiment: The company appointed longtime executive Skye Anderson as president of McDonald’s USA, replacing Joe Erlinger. Anderson will oversee nearly 14,000 U.S. restaurants and is expected to improve service, simplify value offerings and restore traffic in the company’s largest market. McDonald’s Names Skye Anderson as U.S. President

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MCD shares. Robert W. Baird set a $305.00 target price on McDonald’s in a research note on Thursday, May 7th. Morgan Stanley decreased their price target on McDonald’s from $331.00 to $322.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Citigroup lowered their price target on McDonald’s from $375.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Rothschild & Co Redburn upgraded shares of McDonald’s from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $260.00 to $306.00 in a research note on Thursday, April 23rd. Finally, Evercore set a $320.00 price objective on shares of McDonald’s in a report on Thursday, July 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $330.36.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $268.35 on Wednesday. McDonald’s Corporation has a 12 month low of $260.96 and a 12 month high of $341.75. The stock has a market cap of $190.66 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 2.85 and a beta of 0.41. The stock’s 50 day moving average price is $274.32 and its 200 day moving average price is $297.05.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.06. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period last year, the company posted $3.19 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that McDonald’s Corporation will post 12.85 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st will be issued a $1.86 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.8%. McDonald’s’s dividend payout ratio is 61.34%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the transaction, the insider directly owned 7,734 shares of the company’s stock, valued at $2,198,930.88. The trade was a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the completion of the sale, the executive vice president owned 6,268 shares in the company, valued at approximately $1,744,760.48. This trade represents a 30.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 8,348 shares of company stock valued at $2,355,634. Insiders own 0.26% of the company’s stock.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.