CIBC Bancorp USA Inc. Buys Shares of 109,297 McDonald’s Corporation $MCD

CIBC Bancorp USA Inc. bought a new position in shares of McDonald’s Corporation (NYSE:MCD) during the third quarter, HoldingsChannel.com reports. The firm bought 109,297 shares of the fast-food giant’s stock, valued at approximately $33,214,000.

Several other institutional investors also recently modified their holdings of MCD. Evergreen Private Wealth LLC raised its position in shares of McDonald’s by 162.5% in the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after acquiring an additional 52 shares during the period. Traub Capital Management LLC acquired a new position in McDonald’s during the second quarter valued at approximately $29,000. Davis Capital Management bought a new stake in McDonald’s in the third quarter valued at approximately $37,000. Miller Wealth Advisors LLC bought a new stake in McDonald’s in the third quarter valued at approximately $38,000. Finally, Guerra Advisors Inc acquired a new stake in McDonald’s in the third quarter worth $40,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 26,277 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $331.35, for a total transaction of $8,706,883.95. Following the completion of the transaction, the chief executive officer owned 22,900 shares of the company’s stock, valued at $7,587,915. This represents a 53.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan Banner sold 6,201 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $333.29, for a total transaction of $2,066,731.29. Following the transaction, the executive vice president directly owned 2,291 shares of the company’s stock, valued at $763,567.39. This represents a 73.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,657 shares of company stock valued at $23,722,204 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a report on Wednesday, January 28th. UBS Group raised their price objective on McDonald’s from $350.00 to $365.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Royal Bank Of Canada boosted their target price on McDonald’s from $320.00 to $330.00 and gave the company a “sector perform” rating in a research note on Thursday, February 12th. BTIG Research increased their price target on McDonald’s from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Mizuho raised their price target on McDonald’s from $300.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Seventeen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $339.69.

McDonald’s Stock Down 3.2%

Shares of NYSE:MCD opened at $315.70 on Thursday. The firm has a market cap of $224.27 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.90 and a beta of 0.51. McDonald’s Corporation has a 12 month low of $283.47 and a 12 month high of $341.75. The company’s fifty day simple moving average is $321.53 and its 200 day simple moving average is $311.73.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.05 by $0.07. McDonald’s had a negative return on equity of 343.90% and a net margin of 31.85%.The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the company earned $2.83 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.26%.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.