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

CIBC Private Wealth Group LLC reduced its position in McDonald's Co. (NYSE:MCD - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. United Bank lifted its stake in shares of McDonald's by 3.5% during the 3rd quarter. United Bank now owns 6,446 shares of the fast-food giant's stock valued at $1,963,000 after buying an additional 218 shares in the last quarter. Cynosure Group LLC purchased a new stake in shares of McDonald's during the third quarter worth $216,000. Public Sector Pension Investment Board grew its position in shares of McDonald's by 11.6% in the third quarter. Public Sector Pension Investment Board now owns 30,844 shares of the fast-food giant's stock valued at $9,392,000 after purchasing an additional 3,200 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of McDonald's by 4.4% during the 3rd quarter. Fred Alger Management LLC now owns 18,331 shares of the fast-food giant's stock valued at $5,582,000 after purchasing an additional 776 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in McDonald's by 542.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant's stock worth $244,174,000 after purchasing an additional 677,139 shares during the period. 70.29% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several analysts have issued reports on MCD shares. JPMorgan Chase & Co. increased their target price on shares of McDonald's from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Erste Group Bank upgraded McDonald's from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Wedbush raised their price target on McDonald's from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Loop Capital reissued a "buy" rating and set a $342.00 price objective on shares of McDonald's in a report on Friday, January 3rd. Finally, Barclays raised their target price 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 analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $323.61.

Insiders Place Their Bets

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total value of $309,270.00. Following the completion of the transaction, the executive vice president now owns 5,564 shares in the company, valued at $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 300 shares of the company's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,996 shares of company stock valued at $8,897,534. 0.23% of the stock is currently owned by corporate insiders.

McDonald's Stock Performance

Shares of MCD traded up $1.20 on Tuesday, reaching $313.57. The stock had a trading volume of 2,393,805 shares, compared to its average volume of 3,499,388. The firm has a market capitalization of $224.03 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The company has a 50-day simple moving average of $302.16 and a 200-day simple moving average of $298.35. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.83. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. On average, analysts expect that McDonald's Co. will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald's's dividend payout ratio (DPR) is presently 62.16%.

McDonald's Company 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.