McDonald’s Co. (NYSE:MCD) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,609 shares of the fast-food giant’s stock after selling 426 shares during the period. McDonald’s accounts for 1.7% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 11th biggest position. Canandaigua National Bank & Trust Co.’s holdings in McDonald’s were worth $10,328,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in MCD. Confluence Investment Management LLC lifted its stake in shares of McDonald’s by 0.3% during the second quarter. Confluence Investment Management LLC now owns 85,731 shares of the fast-food giant’s stock valued at $25,583,000 after buying an additional 227 shares during the period. Advance Capital Management Inc. grew its position in shares of McDonald’s by 2.9% in the second quarter. Advance Capital Management Inc. now owns 3,328 shares of the fast-food giant’s stock valued at $993,000 after purchasing an additional 95 shares during the period. Triton Wealth Management PLLC acquired a new position in McDonald’s in the first quarter valued at $276,000. Oliver Lagore Vanvalin Investment Group lifted its position in McDonald’s by 104.6% during the first quarter. Oliver Lagore Vanvalin Investment Group now owns 1,502 shares of the fast-food giant’s stock worth $420,000 after buying an additional 768 shares during the period. Finally, Sweeney & Michel LLC purchased a new stake in McDonald’s in the 1st quarter valued at about $234,000. 67.60% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of MCD opened at $281.77 on Thursday. McDonald’s Co. has a 1 year low of $230.58 and a 1 year high of $299.35. The firm has a fifty day moving average of $288.05 and a 200-day moving average of $285.84. The company has a market cap of $205.34 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.71 and a beta of 0.64.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Thursday, July 27th. The fast-food giant reported $3.17 EPS for the quarter, beating the consensus estimate of $2.77 by $0.40. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.30 billion. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. McDonald’s’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.55 earnings per share. Analysts predict that McDonald’s Co. will post 11.49 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a dividend of $1.52 per share. The ex-dividend date is Thursday, August 31st. This represents a $6.08 dividend on an annualized basis and a yield of 2.16%. McDonald’s’s dividend payout ratio (DPR) is presently 55.93%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen reiterated an “outperform” rating and set a $326.00 price objective on shares of McDonald’s in a report on Thursday, July 27th. Barclays upped their price objective on McDonald’s from $330.00 to $345.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Stephens reissued an “overweight” rating and set a $325.00 price target on shares of McDonald’s in a research report on Thursday, July 27th. BMO Capital Markets raised their price objective on McDonald’s from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Finally, Jefferies Financial Group boosted their target price on McDonald’s from $330.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Five equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $323.17.

Insider Activity

In related news, insider Joseph M. Erlinger sold 4,487 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $297.87, for a total value of $1,336,542.69. Following the sale, the insider now directly owns 11,412 shares in the company, valued at approximately $3,399,292.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Heidi B. Capozzi sold 688 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $282.54, for a total transaction of $194,387.52. Following the transaction, the executive vice president now directly owns 20,019 shares of the company’s stock, valued at $5,656,168.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $297.87, for a total value of $1,336,542.69. Following the transaction, the insider now directly owns 11,412 shares in the company, valued at approximately $3,399,292.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,149 shares of company stock worth $5,257,201. Corporate insiders own 0.27% of the company’s stock.

McDonald’s Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.