CIBC Private Wealth Group LLC Sells 12,640 Shares of McDonald’s Corporation $MCD

CIBC Private Wealth Group LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,127,903 shares of the fast-food giant’s stock after selling 12,640 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.16% of McDonald’s worth $342,759,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in McDonald’s during the second quarter worth approximately $2,780,712,000. Laurel Wealth Advisors LLC raised its stake in 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 buying an additional 5,718,087 shares during the period. Soundwatch Capital LLC acquired a new stake in shares of McDonald’s in the second quarter valued at approximately $1,412,069,000. Viking Global Investors LP lifted its position in shares of McDonald’s by 171.7% in the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after buying an additional 1,974,998 shares during the last quarter. Finally, Amundi boosted its stake in shares of McDonald’s by 96.0% during the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after acquiring an additional 1,974,751 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCD. Mizuho boosted their target price on McDonald’s from $300.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Robert W. Baird set a $335.00 price target on McDonald’s in a report on Thursday, February 12th. Wells Fargo & Company lifted their price objective on shares of McDonald’s from $345.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $340.00 price objective on shares of McDonald’s in a report on Thursday, February 12th. Finally, Barclays increased their price objective on shares of McDonald’s from $372.00 to $380.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Seventeen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $339.69.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $315.70 on Thursday. The stock has a market capitalization of $224.27 billion, a P/E ratio of 26.42, a PEG ratio of 2.90 and a beta of 0.51. The stock’s fifty day moving average is $321.53 and its 200 day moving average is $311.73. McDonald’s Corporation has a 52 week low of $283.47 and a 52 week high of $341.75.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 net margin of 31.85% and a negative return on equity of 343.90%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the company posted $2.83 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

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

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 4,692 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $331.00, for a total transaction of $1,553,052.00. Following the completion of the sale, the chief marketing officer directly owned 6,200 shares in the company, valued at $2,052,200. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Banner sold 6,201 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $333.29, for a total value of $2,066,731.29. Following the completion of the sale, the executive vice president directly owned 2,291 shares in the company, valued at approximately $763,567.39. This represents a 73.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 71,657 shares of company stock worth $23,722,204. Insiders own 0.25% of the company’s stock.

About McDonald’s

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.