CIBC Asset Management Inc cut its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 20.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,135 shares of the fast-food giant's stock after selling 61,439 shares during the period. CIBC Asset Management Inc's holdings in McDonald's were worth $68,984,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Creative Planning increased its position in McDonald's by 1.4% in the 3rd quarter. Creative Planning now owns 329,417 shares of the fast-food giant's stock worth $100,311,000 after purchasing an additional 4,480 shares during the last quarter. Inspire Advisors LLC bought a new position in McDonald's during the third quarter valued at approximately $222,000. Net Worth Advisory Group acquired a new stake in McDonald's in the third quarter valued at approximately $649,000. Seamount Financial Group Inc. grew its position in McDonald's by 3.0% in the third quarter. Seamount Financial Group Inc. now owns 2,368 shares of the fast-food giant's stock worth $721,000 after acquiring an additional 70 shares in the last quarter. Finally, AA Financial Advisors LLC increased its stake in shares of McDonald's by 14.0% during the 3rd quarter. AA Financial Advisors LLC now owns 2,400 shares of the fast-food giant's stock worth $731,000 after purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.
In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,906 shares of company stock worth $5,406,382 over the last three months. Insiders own 0.23% of the company's stock.
Several equities analysts have commented on MCD shares. TD Cowen reissued a "hold" rating and set a $300.00 target price on shares of McDonald's in a research report on Tuesday, October 29th. Morgan Stanley boosted their target price on McDonald's from $336.00 to $340.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Wedbush upped their price objective on shares of McDonald's from $320.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Bank of America lifted their target price on shares of McDonald's from $312.00 to $316.00 and gave the stock a "neutral" rating in a report on Tuesday, February 11th. Finally, Citigroup raised their price target on McDonald's from $336.00 to $360.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, McDonald's currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.61.
Check Out Our Latest Report on MCD
NYSE:MCD opened at $308.59 on Monday. The company has a market cap of $221.14 billion, a P/E ratio of 27.09, a P/E/G ratio of 4.08 and a beta of 0.74. McDonald's Co. has a one year low of $243.53 and a one year high of $317.90. The firm's fifty day moving average price is $291.98 and its two-hundred day moving average price is $292.90.
McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting analysts' consensus estimates of $2.83. McDonald's had a negative return on equity of 175.42% and a net margin of 31.79%. As a group, equities research analysts expect that McDonald's Co. will post 11.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, March 3rd. McDonald's's dividend payout ratio is currently 62.16%.
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.
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