CIBC Asset Management Inc Buys 6,244 Shares of McDonald's Co. (NYSE:MCD)

CIBC Asset Management Inc raised its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,574 shares of the fast-food giant's stock after buying an additional 6,244 shares during the period. CIBC Asset Management Inc's holdings in McDonald's were worth $91,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. lifted its holdings in McDonald's by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant's stock worth $433,000 after acquiring an additional 33 shares during the last quarter. Riversedge Advisors LLC boosted its position in shares of McDonald's by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant's stock worth $513,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its holdings in shares of McDonald's by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant's stock valued at $1,057,000 after acquiring an additional 35 shares in the last quarter. Clear Creek Financial Management LLC grew its position in McDonald's by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant's stock worth $396,000 after acquiring an additional 35 shares in the last quarter. Finally, GDS Wealth Management lifted its holdings in shares of McDonald's by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant's stock worth $762,000 after buying an additional 35 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCD has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on McDonald's from $310.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, September 9th. TD Cowen reiterated a "hold" rating and issued a $300.00 target price on shares of McDonald's in a research note on Tuesday, October 29th. Stifel Nicolaus reduced their price target on shares of McDonald's from $285.00 to $265.00 and set a "hold" rating on the stock in a research note on Monday, July 22nd. Tigress Financial boosted their price target on shares of McDonald's from $355.00 to $360.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. Finally, Truist Financial dropped their target price on shares of McDonald's from $350.00 to $342.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $319.46.

McDonald's Stock Down 2.1 %

McDonald's stock traded down $6.23 during mid-day trading on Friday, reaching $292.33. The company had a trading volume of 2,669,006 shares, compared to its average volume of 3,503,296. The firm has a market cap of $209.49 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.95 and a beta of 0.74. The company has a 50 day moving average of $300.00 and a 200-day moving average of $277.29. McDonald's Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analysts' expectations of $6.82 billion. McDonald's had a net margin of 31.79% and a negative return on equity of 175.42%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $3.19 EPS. On average, analysts predict that McDonald's Co. will post 11.77 earnings per share for the current fiscal year.

McDonald's Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a positive change from McDonald's's previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date is Monday, December 2nd. McDonald's's payout ratio is presently 58.65%.

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company's stock, valued at approximately $3,632,712.10. This represents a 8.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company's stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 in the last ninety days. Insiders own 0.23% of the company's stock.

McDonald's Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.