CIBC Private Wealth Group LLC Sells 28,416 Shares of McDonald’s Co. (NYSE:MCD)

CIBC Private Wealth Group LLC trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 2.5% during the fourth quarter, Holdings Channel reports. 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’s holdings in McDonald’s were worth $324,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Legacy Investment Solutions LLC acquired a new position in McDonald’s in the third quarter valued at approximately $25,000. Atala Financial Inc bought a new position in McDonald’s during the fourth quarter worth $26,000. Comprehensive Financial Planning Inc. PA acquired a new stake in McDonald’s in the fourth quarter worth $27,000. Collier Financial bought a new stake in McDonald’s in the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC raised its holdings in shares of McDonald’s by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 300 shares of the business’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 completion of the transaction, the insider now owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,405 shares of company stock worth $9,886,656 in the last quarter. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCD. Erste Group Bank raised McDonald’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Piper Sandler decreased their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Citigroup upped their price objective on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Barclays raised their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Stock Performance

MCD stock opened at $306.95 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The stock has a fifty day moving average of $301.52 and a 200-day moving average of $298.15. The company has a market capitalization of $219.31 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities analysts predict that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.77 per share. 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 62.16%.

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.