Chemung Canal Trust Co. Decreases Holdings in McDonald’s Co. (NYSE:MCD)

Chemung Canal Trust Co. lowered its position in McDonald’s Co. (NYSE:MCD) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,928 shares of the fast-food giant’s stock after selling 748 shares during the period. McDonald’s comprises about 1.8% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 16th biggest holding. Chemung Canal Trust Co.’s holdings in McDonald’s were worth $8,676,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in McDonald’s by 542.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after buying an additional 677,139 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of McDonald’s in the third quarter worth about $121,254,000. Zurich Insurance Group Ltd FI lifted its position in shares of McDonald’s by 3,580.1% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after buying an additional 261,350 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of McDonald’s by 1.4% during the 3rd 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 acquiring an additional 220,365 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $285.37 on Friday. The firm’s 50 day simple moving average is $291.21 and its 200-day simple moving average is $287.88. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The firm has a market cap of $204.50 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 EPS. Equities research analysts predict that McDonald’s Co. will post 11.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. 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 300 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,905 shares of company stock worth $2,592,327 in the last three months. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of analyst reports. Loop Capital restated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. BMO Capital Markets increased their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Bank of America lifted their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $320.78.

About McDonald’s

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.