CIBC Asset Management Inc Sells 61,439 Shares of McDonald’s Co. (NYSE:MCD)

CIBC Asset Management Inc reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 20.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 238,135 shares of the fast-food giant’s stock after selling 61,439 shares during the quarter. CIBC Asset Management Inc’s holdings in McDonald’s were worth $68,984,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kennebec Savings Bank acquired a new position in shares of McDonald’s during the 3rd quarter valued at $1,394,000. YANKCOM Partnership bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $1,628,000. Charles Schwab Investment Management Inc. raised its position in shares of McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares during the period. Finally, PFW Advisors LLC bought a new stake in McDonald’s during the 4th quarter valued at $2,471,000. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In related news, 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 value of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,906 shares of company stock worth $5,406,382. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MCD. BMO Capital Markets boosted their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and cut their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Robert W. Baird raised their price objective on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Wedbush increased their target price on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, Piper Sandler reduced their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Stock Performance

McDonald’s stock opened at $308.59 on Monday. The stock has a market cap of $221.14 billion, a P/E ratio of 27.09, a PEG ratio of 4.08 and a beta of 0.74. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm’s fifty day moving average price is $291.98 and its 200-day moving average price is $292.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. Sell-side analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, March 3rd. McDonald’s’s payout ratio is currently 62.16%.

McDonald’s Company Profile

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.