Cim Investment Management Inc. Reduces Position in McDonald’s Co. (NYSE:MCD)

Cim Investment Management Inc. reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,755 shares of the fast-food giant’s stock after selling 47 shares during the period. McDonald’s comprises about 0.5% of Cim Investment Management Inc.’s holdings, making the stock its 29th largest position. Cim Investment Management Inc.’s holdings in McDonald’s were worth $1,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Gallagher Fiduciary Advisors LLC raised its stake in McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after acquiring an additional 5,609,736 shares in the last quarter. Capital Research Global Investors increased its position in shares of McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. Swedbank AB purchased a new stake in shares of McDonald’s in the 1st quarter valued at about $348,206,000. Capital World Investors boosted its position in shares of McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after buying an additional 987,099 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The disclosure for this sale can be found here. Insiders sold 33,249 shares of company stock worth $9,865,866 in the last ninety days. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $303.69 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $306.96. The company has a market cap of $218.86 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.99 and a beta of 0.72. The business’s fifty day moving average is $281.71 and its two-hundred day moving average is $271.18.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $3.17 earnings per share. On average, analysts predict that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MCD shares. Citigroup raised their target price on shares of McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Jefferies Financial Group raised their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Tigress Financial upped their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research report on Tuesday, September 10th. Finally, Morgan Stanley reduced their price objective on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $308.22.

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.