Canandaigua National Bank & Trust Co. Acquires 1,275 Shares of McDonald’s Corporation $MCD

Canandaigua National Bank & Trust Co. grew its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 3.9% in the second quarter, HoldingsChannel.com reports. The fund owned 33,558 shares of the fast-food giant’s stock after purchasing an additional 1,275 shares during the period. McDonald’s accounts for about 0.9% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 21st largest holding. Canandaigua National Bank & Trust Co.’s holdings in McDonald’s were worth $9,805,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Paladin Wealth LLC raised its holdings in shares of McDonald’s by 6.0% during the 2nd quarter. Paladin Wealth LLC now owns 3,025 shares of the fast-food giant’s stock valued at $884,000 after buying an additional 171 shares in the last quarter. RMR Wealth Builders raised its holdings in shares of McDonald’s by 7.9% during the 2nd quarter. RMR Wealth Builders now owns 7,104 shares of the fast-food giant’s stock valued at $2,076,000 after buying an additional 521 shares in the last quarter. Goldstone Financial Group LLC raised its holdings in shares of McDonald’s by 5.4% during the 2nd quarter. Goldstone Financial Group LLC now owns 4,060 shares of the fast-food giant’s stock valued at $1,194,000 after buying an additional 207 shares in the last quarter. NBC Securities Inc. raised its holdings in shares of McDonald’s by 9.5% during the 2nd quarter. NBC Securities Inc. now owns 8,309 shares of the fast-food giant’s stock valued at $2,427,000 after buying an additional 720 shares in the last quarter. Finally, Apella Capital LLC raised its holdings in shares of McDonald’s by 66.0% during the 2nd quarter. Apella Capital LLC now owns 11,950 shares of the fast-food giant’s stock valued at $3,508,000 after buying an additional 4,751 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $305.49 on Monday. The company has a market cap of $218.00 billion, a P/E ratio of 26.18, a PEG ratio of 3.11 and a beta of 0.49. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The stock’s fifty day moving average price is $305.33 and its 200-day moving average price is $306.57.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the company earned $2.97 earnings per share. McDonald’s’s revenue was up 5.4% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio is currently 60.67%.

Analysts Set New Price Targets

MCD has been the topic of a number of research reports. Citigroup raised their price objective on McDonald’s from $364.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. TD Cowen raised their price objective on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a research note on Thursday, July 10th. Morgan Stanley upped their price target on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Finally, Piper Sandler upped their price target on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $325.14.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,341 shares of company stock worth $2,544,327 in the last ninety days. Insiders own 0.25% of the company’s stock.

McDonald’s Company 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.