McDonald’s Co. (NYSE:MCD) Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. boosted its holdings in McDonald’s Co. (NYSE:MCD) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,259 shares of the fast-food giant’s stock after purchasing an additional 77 shares during the quarter. Cidel Asset Management Inc.’s holdings in McDonald’s were worth $945,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at $25,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s in the third quarter valued at $31,000. Hara Capital LLC acquired a new position in McDonald’s in the third quarter valued at $44,000. Financial Life Planners purchased a new position in shares of McDonald’s during the fourth quarter worth about $49,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of McDonald’s during the third quarter worth about $58,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCD shares. Bank of America raised their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Evercore ISI upped their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Citigroup raised their price objective on shares of McDonald’s from $334.00 to $336.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, KeyCorp reduced their target price on shares of McDonald’s from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $318.86.

McDonald’s Price Performance

Shares of MCD stock opened at $294.39 on Friday. The firm’s 50-day simple moving average is $290.73 and its 200-day simple moving average is $290.40. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm has a market cap of $210.97 billion, a P/E ratio of 25.85, a PEG ratio of 3.83 and a beta of 0.74.

McDonald’s Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,406 shares of company stock worth $2,150,857 in the last ninety days. Insiders own 0.23% of the company’s stock.

McDonald’s 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.