CIBC Asset Management Inc trimmed its holdings in shares of McDonald's Co. (NYSE:MCD) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,015 shares of the fast-food giant’s stock after selling 2,039 shares during the period. CIBC Asset Management Inc’s holdings in McDonald's were worth $14,289,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in MCD. Horan Capital Advisors LLC. acquired a new stake in McDonald's during the 3rd quarter valued at approximately $104,000. Phocas Financial Corp. acquired a new stake in McDonald's during the 2nd quarter valued at approximately $107,000. Tarbox Family Office Inc. lifted its stake in shares of McDonald's by 105.8% in the 4th quarter. Tarbox Family Office Inc. now owns 638 shares of the fast-food giant’s stock valued at $110,000 after purchasing an additional 328 shares during the period. Horan Capital Management acquired a new position in shares of McDonald's in the 4th quarter valued at $110,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in shares of McDonald's by 219.2% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 830 shares of the fast-food giant’s stock valued at $130,000 after purchasing an additional 570 shares during the period. Institutional investors and hedge funds own 68.51% of the company’s stock.
Shares of McDonald's stock opened at $158.66 on Thursday. McDonald's Co. has a 1-year low of $128.41 and a 1-year high of $178.70. The stock has a market cap of $126,333.11, a price-to-earnings ratio of 24.95, a PEG ratio of 2.40 and a beta of 0.65. The company has a current ratio of 1.84, a quick ratio of 1.82 and a debt-to-equity ratio of -9.04.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Wednesday, February 28th. McDonald's’s payout ratio is 63.52%.
In other news, VP Catherine A. Hoovel sold 1,398 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $170.54, for a total transaction of $238,414.92. Following the completion of the sale, the vice president now owns 1,398 shares of the company’s stock, valued at $238,414.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas M. Goare sold 34,575 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $173.53, for a total transaction of $5,999,799.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
MCD has been the subject of several analyst reports. Zacks Investment Research upgraded shares of McDonald's from a “hold” rating to a “buy” rating and set a $196.00 target price for the company in a research note on Thursday, January 18th. Stifel Nicolaus set a $172.00 target price on shares of McDonald's and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. Piper Jaffray Companies boosted their target price on shares of McDonald's from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. Goldman Sachs set a $200.00 target price on shares of McDonald's and gave the company a “buy” rating in a research note on Friday, January 19th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $175.00 target price (down from $191.00) on shares of McDonald's in a research note on Tuesday, March 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $183.02.
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McDonald's Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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