Canandaigua National Bank & Trust Co. lifted its position in shares of Mcdonald’s Corp (NYSE:MCD) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,798 shares of the fast-food giant’s stock after buying an additional 351 shares during the quarter. Mcdonald’s makes up 1.6% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 12th largest position. Canandaigua National Bank & Trust Co.’s holdings in Mcdonald’s were worth $8,680,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Norges Bank purchased a new stake in shares of Mcdonald’s during the fourth quarter worth about $1,326,793,000. Thoroughbred Financial Services LLC grew its holdings in shares of Mcdonald’s by 21,724.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,151,660 shares of the fast-food giant’s stock worth $315,166,000 after buying an additional 3,137,219 shares in the last quarter. FMR LLC grew its holdings in shares of Mcdonald’s by 15.3% during the fourth quarter. FMR LLC now owns 21,356,753 shares of the fast-food giant’s stock worth $3,792,318,000 after buying an additional 2,831,716 shares in the last quarter. Ronna Sue Cohen grew its holdings in shares of Mcdonald’s by 18,528.9% during the first quarter. Ronna Sue Cohen now owns 2,408,909 shares of the fast-food giant’s stock worth $2,409,000 after buying an additional 2,395,978 shares in the last quarter. Finally, American International Group Inc. grew its holdings in shares of Mcdonald’s by 719.4% during the fourth quarter. American International Group Inc. now owns 2,683,386 shares of the fast-food giant’s stock worth $476,489,000 after buying an additional 2,355,895 shares in the last quarter. Institutional investors and hedge funds own 68.21% of the company’s stock.
Mcdonald’s stock opened at $218.27 on Friday. Mcdonald’s Corp has a 1 year low of $156.56 and a 1 year high of $221.93. The firm has a 50 day moving average price of $213.60 and a 200 day moving average price of $196.96. The company has a market cap of $166.87 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 3.15 and a beta of 0.49.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, August 30th. This represents a $4.64 annualized dividend and a yield of 2.13%. Mcdonald’s’s dividend payout ratio is currently 58.73%.
In other Mcdonald’s news, EVP Silvia Lagnado sold 26,649 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $212.58, for a total transaction of $5,665,044.42. Following the completion of the sale, the executive vice president now directly owns 40,129 shares in the company, valued at $8,530,622.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ian Frederick Borden sold 4,149 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $199.22, for a total transaction of $826,563.78. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
MCD has been the subject of a number of recent research reports. Telsey Advisory Group reiterated an “outperform” rating and set a $230.00 price target (up from $210.00) on shares of Mcdonald’s in a report on Monday, July 15th. Cleveland Research reiterated a “hold” rating on shares of Mcdonald’s in a report on Friday, July 12th. Wells Fargo & Co lifted their price target on shares of Mcdonald’s from $235.00 to $237.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. BTIG Research lifted their price target on shares of Mcdonald’s to $220.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets lifted their price target on shares of Mcdonald’s to $230.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $220.23.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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