CIBC Bancorp USA Inc. Invests $33.21 Million in McDonald’s Corporation $MCD

CIBC Bancorp USA Inc. bought a new position in shares of McDonald’s Corporation (NYSE:MCD) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 109,297 shares of the fast-food giant’s stock, valued at approximately $33,214,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Evergreen Private Wealth LLC grew its stake in McDonald’s by 162.5% during the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after buying an additional 52 shares during the last quarter. Traub Capital Management LLC bought a new position in shares of McDonald’s in the second quarter valued at approximately $29,000. Davis Capital Management bought a new position in shares of McDonald’s in the third quarter valued at approximately $37,000. Miller Wealth Advisors LLC bought a new stake in McDonald’s during the 3rd quarter worth approximately $38,000. Finally, Guerra Advisors Inc acquired a new stake in McDonald’s during the 3rd quarter valued at $40,000. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 2,626 shares of McDonald’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $325.25, for a total transaction of $854,106.50. Following the completion of the sale, the insider owned 5,398 shares in the company, valued at $1,755,699.50. The trade was a 32.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 6,201 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $333.29, for a total transaction of $2,066,731.29. Following the sale, the executive vice president directly owned 2,291 shares of the company’s stock, valued at approximately $763,567.39. This trade represents a 73.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,657 shares of company stock worth $23,722,204 over the last quarter. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $315.70 on Thursday. The stock has a market capitalization of $224.27 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 2.90 and a beta of 0.51. McDonald’s Corporation has a 52 week low of $283.47 and a 52 week high of $341.75. The stock has a fifty day moving average of $321.53 and a 200-day moving average of $311.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.07. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.81 billion. McDonald’s had a negative return on equity of 343.90% and a net margin of 31.85%.The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.83 earnings per share. Equities research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were given a dividend of $1.86 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s dividend payout ratio is presently 62.26%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. TD Cowen reissued a “hold” rating and issued a $320.00 price objective on shares of McDonald’s in a research note on Thursday, February 12th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating and set a $380.00 target price for the company in a research note on Friday, February 13th. Piper Sandler lifted their price target on McDonald’s from $323.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Wells Fargo & Company upped their price target on shares of McDonald’s from $345.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, Barclays increased their price objective on shares of McDonald’s from $372.00 to $380.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Seventeen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $339.69.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.