Canandaigua National Trust Co of Florida Increases Holdings in McDonald’s Co. (NYSE:MCD)

Canandaigua National Trust Co of Florida boosted its position in McDonald’s Co. (NYSE:MCD) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,811 shares of the fast-food giant’s stock after buying an additional 200 shares during the period. Canandaigua National Trust Co of Florida’s holdings in McDonald’s were worth $525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCD. Geode Capital Management LLC lifted its position in McDonald’s by 1.4% during the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after purchasing an additional 220,365 shares during the period. Wellington Management Group LLP lifted its holdings in shares of McDonald’s by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after buying an additional 128,800 shares during the period. Legal & General Group Plc boosted its stake in shares of McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares during the period. Finally, Ameriprise Financial Inc. raised its position in McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Evercore ISI upped their price objective on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Wells Fargo & Company upped their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group upped their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Truist Financial decreased their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $320.65.

McDonald’s Trading Down 0.9 %

MCD traded down $2.72 on Monday, hitting $292.06. 2,721,069 shares of the company’s stock were exchanged, compared to its average volume of 2,447,961. The firm has a market cap of $209.30 billion, a PE ratio of 25.64, a P/E/G ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a fifty day moving average of $294.61 and a two-hundred day moving average of $285.42.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 EPS. On average, analysts predict that McDonald’s Co. will post 11.75 EPS for the current year.

Insider Transactions at McDonald’s

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. The trade was a 44.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,050 shares of company stock worth $3,556,688 in the last 90 days. 0.23% of the stock is owned by insiders.

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.