McDonald’s Co. (NYSE:MCD) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,928 shares of the fast-food giant’s stock after selling 748 shares during the quarter. McDonald’s comprises approximately 1.8% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 16th largest holding. Chemung Canal Trust Co.’s holdings in McDonald’s were worth $8,676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s in the third quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new position in McDonald’s during the 3rd quarter worth approximately $31,000. Hara Capital LLC acquired a new stake in McDonald’s during the 3rd quarter valued at approximately $44,000. Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s in the 3rd quarter valued at $58,000. Finally, FSA Wealth Management LLC purchased a new position in shares of McDonald’s during the third quarter worth $72,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup raised McDonald’s from a “neutral” rating to a “buy” rating and increased their price target for the stock from $311.00 to $334.00 in a research report on Friday, January 10th. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. Finally, Loop Capital restated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $320.78.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the transaction, the insider now owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,905 shares of company stock worth $2,592,327 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.3 %

MCD stock opened at $285.37 on Friday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The business has a fifty day moving average of $291.21 and a two-hundred day moving average of $287.88. The stock has a market cap of $204.50 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the firm posted $3.19 earnings per share. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that McDonald’s Co. will post 11.72 EPS for the current year.

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.