McDonald’s Co. (NYSE:MCD) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. lessened its holdings in McDonald’s Co. (NYSE:MCD) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,750 shares of the fast-food giant’s stock after selling 5,727 shares during the quarter. Cibc World Market Inc.’s holdings in McDonald’s were worth $102,838,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Steigerwald Gordon & Koch Inc. lifted its position in shares of McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares during the last quarter. Riversedge Advisors LLC lifted its position in shares of McDonald’s by 2.0% during the 3rd 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 last quarter. Proquility Private Wealth Partners LLC lifted its position 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 worth $1,057,000 after buying an additional 35 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of McDonald’s by 2.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after buying an additional 35 shares during the last quarter. Finally, GDS Wealth Management lifted its position in shares of McDonald’s by 1.4% during the 3rd 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. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MCD shares. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upped their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays upped their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America upped their target price on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $320.87.

McDonald’s Price Performance

NYSE MCD opened at $290.19 on Friday. The business has a 50 day simple moving average of $291.11 and a 200 day simple moving average of $289.24. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market capitalization of $207.96 billion, a P/E ratio of 25.48, a P/E/G ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the firm posted $3.19 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Equities analysts expect that McDonald’s Co. will post 11.68 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares of the company’s stock, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock valued at $2,150,857 over the last 90 days. Company insiders own 0.23% of the company’s stock.

About McDonald’s

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.