Cibc World Market Inc. Trims Holdings in McDonald’s Co. (NYSE:MCD)

Cibc World Market Inc. decreased its holdings in McDonald’s Co. (NYSE:MCD) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,750 shares of the fast-food giant’s stock after selling 5,727 shares during the quarter. Cibc World Market Inc.’s holdings in McDonald’s were worth $102,838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new position in McDonald’s during the 3rd quarter worth $25,000. RPg Family Wealth Advisory LLC purchased a new position in McDonald’s during the 3rd quarter worth $31,000. Hara Capital LLC purchased a new position in McDonald’s during the 3rd quarter worth $44,000. Peterson Financial Group Inc. purchased a new position in McDonald’s during the 3rd quarter worth $58,000. Finally, FSA Wealth Management LLC purchased a new position in McDonald’s during the 3rd quarter worth $72,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley cut their price objective on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. BMO Capital Markets increased their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial cut their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Evercore ISI increased their price target 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. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $320.87.

Insider Activity at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction that occurred 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 sale, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of McDonald’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 transaction of $84,225.00. Following the sale, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,406 shares of company stock worth $2,150,857. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $290.19 on Friday. The company’s 50 day simple moving average is $291.11 and its 200 day simple moving average is $289.24. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market capitalization of $207.96 billion, a PE ratio of 25.48, a P/E/G ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) 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 business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the company earned $3.19 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that McDonald’s Co. will post 11.68 earnings per share for the current fiscal 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.