Cim Investment Management Inc. Purchases 6,596 Shares of McDonald’s Corporation $MCD

Cim Investment Management Inc. boosted its position in McDonald’s Corporation (NYSE:MCD) by 99.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,215 shares of the fast-food giant’s stock after buying an additional 6,596 shares during the quarter. McDonald’s makes up about 0.7% of Cim Investment Management Inc.’s portfolio, making the stock its 22nd biggest position. Cim Investment Management Inc.’s holdings in McDonald’s were worth $3,846,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MCD. Norges Bank acquired a new position in McDonald’s during the second quarter worth $2,780,712,000. Laurel Wealth Advisors LLC grew its position in shares of McDonald’s by 29,382.3% in the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after purchasing an additional 5,718,087 shares during the last quarter. Soundwatch Capital LLC bought a new position in McDonald’s during the 2nd quarter worth $1,412,069,000. Viking Global Investors LP boosted its holdings in McDonald’s by 171.7% in the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after purchasing an additional 1,974,998 shares during the period. Finally, Amundi boosted its stake in shares of McDonald’s by 96.0% in the second quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock valued at $1,188,147,000 after buying an additional 1,974,751 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Joseph M. Erlinger sold 3,195 shares of McDonald’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the transaction, the insider directly owned 6,088 shares of the company’s stock, valued at $1,861,832.16. The trade was a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer directly owned 26,353 shares in the company, valued at approximately $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 40,030 shares of company stock valued at $12,240,570. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $316.84 on Friday. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The company has a market cap of $225.64 billion, a PE ratio of 27.03, a P/E/G ratio of 3.52 and a beta of 0.52. The firm’s 50 day simple moving average is $304.98 and its 200 day simple moving average is $303.70.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. McDonald’s’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.23 EPS. Equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is presently 63.48%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCD. Robert W. Baird boosted their target price on shares of McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Guggenheim upped their price objective on McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Stifel Nicolaus lifted their target price on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Friday, August 22nd. KeyCorp reissued an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a research note on Monday, October 20th. Finally, Royal Bank Of Canada initiated coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, McDonald’s has an average rating of “Hold” and a consensus price target of $324.57.

McDonald’s 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.