CIBC Private Wealth Group LLC Has $324.24 Million Position in McDonald’s Co. (NYSE:MCD)

CIBC Private Wealth Group LLC cut its stake in McDonald’s Co. (NYSE:MCD) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,130,160 shares of the fast-food giant’s stock after selling 28,416 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.16% of McDonald’s worth $324,243,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in McDonald’s in the 3rd quarter valued at about $25,000. Atala Financial Inc bought a new position in shares of McDonald’s during the fourth quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA acquired a new stake in McDonald’s during the 4th quarter worth approximately $27,000. Collier Financial bought a new stake in McDonald’s in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC grew its holdings in McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $306.95 on Friday. The firm’s fifty day moving average price is $301.52 and its two-hundred day moving average price is $298.15. The stock has a market cap of $219.31 billion, a PE ratio of 26.95, a PEG ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, sell-side analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays boosted their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Morgan Stanley decreased their target price on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. TD Securities reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research report on Monday, February 10th. Finally, Piper Sandler reduced their price target on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $323.61.

Insider Buying and Selling

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the transaction, the executive vice president now owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. This trade represents a 15.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,405 shares of company stock worth $9,886,656 in the last ninety days. Company insiders own 0.23% of the company’s stock.

About McDonald’s

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.