CIBC Asset Management Inc Has $17.09 Million Holdings in McDonald’s Corporation (MCD)

CIBC Asset Management Inc lessened its stake in McDonald’s Corporation (NYSE:MCD) by 15.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,561 shares of the fast-food giant’s stock after selling 19,808 shares during the period. CIBC Asset Management Inc’s holdings in McDonald’s Corporation were worth $17,085,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Legacy Capital Partners Inc. grew its position in shares of McDonald’s Corporation by 7.0% during the 1st quarter. Legacy Capital Partners Inc. now owns 26,154 shares of the fast-food giant’s stock valued at $3,390,000 after acquiring an additional 1,706 shares during the period. Holderness Investments Co. grew its position in shares of McDonald’s Corporation by 323.7% during the 1st quarter. Holderness Investments Co. now owns 10,589 shares of the fast-food giant’s stock valued at $1,372,000 after acquiring an additional 8,090 shares during the period. Cypress Asset Management Inc. TX grew its position in shares of McDonald’s Corporation by 136.4% during the 2nd quarter. Cypress Asset Management Inc. TX now owns 28,274 shares of the fast-food giant’s stock valued at $4,330,000 after acquiring an additional 16,315 shares during the period. Oakworth Capital Inc. grew its position in shares of McDonald’s Corporation by 7.7% during the 1st quarter. Oakworth Capital Inc. now owns 4,977 shares of the fast-food giant’s stock valued at $645,000 after acquiring an additional 355 shares during the period. Finally, Scopus Asset Management L.P. bought a new stake in shares of McDonald’s Corporation during the 1st quarter valued at $42,771,000. 67.92% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece was posted by BBNS and is the sole property of of BBNS. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The original version of this piece can be viewed at https://baseballnewssource.com/markets/cibc-asset-management-inc-sells-19808-shares-of-mcdonalds-corporation-mcd/1698389.html.

In other McDonald’s Corporation news, insider Joseph M. Erlinger sold 10,793 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $154.44, for a total transaction of $1,666,870.92. Following the completion of the transaction, the insider now owns 7,318 shares in the company, valued at approximately $1,130,191.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin M. Ozan sold 25,322 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total transaction of $4,013,537.00. Following the transaction, the chief financial officer now owns 24,039 shares of the company’s stock, valued at approximately $3,810,181.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,938 shares of company stock valued at $11,033,009. 0.24% of the stock is owned by insiders.

MCD has been the subject of a number of recent research reports. BTIG Research boosted their price objective on shares of McDonald’s Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, June 29th. Canaccord Genuity restated a “hold” rating and set a $170.00 target price on shares of McDonald’s Corporation in a research note on Friday, October 6th. Piper Jaffray Companies restated a “buy” rating and set a $153.00 target price on shares of McDonald’s Corporation in a research note on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and set a $140.00 target price on shares of McDonald’s Corporation in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG restated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of McDonald’s Corporation in a research note on Wednesday, July 26th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $167.83.

McDonald’s Corporation (NYSE:MCD) opened at 165.01 on Tuesday. McDonald’s Corporation has a 12-month low of $110.33 and a 12-month high of $165.74. The firm has a 50 day moving average of $158.72 and a 200-day moving average of $151.02. The stock has a market cap of $133.66 billion, a PE ratio of 27.01 and a beta of 0.69.

McDonald’s Corporation (NYSE:MCD) last released its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 EPS for the quarter, beating the consensus estimate of $1.62 by $0.08. McDonald’s Corporation had a net margin of 21.00% and a negative return on equity of 264.89%. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.96 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. McDonald’s Corporation’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts expect that McDonald’s Corporation will post $6.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $1.01 dividend. This is an increase from McDonald’s Corporation’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $4.04 annualized dividend and a yield of 2.45%. McDonald’s Corporation’s dividend payout ratio is 61.54%.

McDonald’s Corporation 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.

Institutional Ownership by Quarter for McDonald`s Corporation (NYSE:MCD)

Receive News & Ratings for McDonald's Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Alex Cora Becomes New Manager for Boston Red Sox
Alex Cora Becomes New Manager for Boston Red Sox
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends


Leave a Reply

 
© 2006-2017 BBNS.