CIBC Asset Management Inc lifted its stake in McDonald’s Co. (NYSE:MCD – Free Report) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 299,574 shares of the fast-food giant’s stock after buying an additional 6,244 shares during the quarter. CIBC Asset Management Inc’s holdings in McDonald’s were worth $91,144,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Capital Research Global Investors boosted its stake in McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares during the last quarter. Swedbank AB bought a new stake in McDonald’s in the 1st quarter worth approximately $348,206,000. Capital World Investors raised its holdings in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD purchased a new position in shares of McDonald’s in the 2nd quarter worth approximately $110,321,000. 70.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on MCD shares. Jefferies Financial Group lifted their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Wells Fargo & Company increased their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Loop Capital restated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Evercore ISI lifted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Bank of America upped their target price on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.
McDonald’s Stock Up 0.4 %
Shares of MCD opened at $298.56 on Friday. The firm’s fifty day moving average is $299.79 and its two-hundred day moving average is $277.14. The stock has a market cap of $213.95 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.
McDonald’s (NYSE:MCD – Get Free Report) last issued 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 negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the firm posted $3.19 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.
McDonald’s Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 58.65%.
Insider Buying and Selling
In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 19.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,596 shares of company stock worth $10,698,289. Insiders own 0.23% of the company’s stock.
About McDonald’s
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.
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