CIBC Asset Management Inc reduced its position in McDonald’s Corporation (NYSE:MCD) by 15.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of McDonald’s Corporation by 4.6% in the 1st quarter. Legal & General Group Plc now owns 4,241,304 shares of the fast-food giant’s stock worth $549,720,000 after purchasing an additional 187,324 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of McDonald’s Corporation by 4.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,882,107 shares of the fast-food giant’s stock worth $503,160,000 after purchasing an additional 174,209 shares in the last quarter. Swiss National Bank lifted its holdings in shares of McDonald’s Corporation by 18.0% in the 1st quarter. Swiss National Bank now owns 3,653,548 shares of the fast-food giant’s stock worth $473,536,000 after purchasing an additional 558,300 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of McDonald’s Corporation by 26.3% in the 2nd quarter. Bank of Montreal Can now owns 1,894,258 shares of the fast-food giant’s stock worth $290,125,000 after purchasing an additional 393,881 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of McDonald’s Corporation by 0.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,881,094 shares of the fast-food giant’s stock worth $243,570,000 after purchasing an additional 7,974 shares in the last quarter. Institutional investors own 67.92% of the company’s stock.

In related news, EVP David Ogden Fairhurst sold 4,782 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $157.05, for a total transaction of $751,013.10. Following the completion of the sale, the executive vice president now owns 6,954 shares in the company, valued at $1,092,125.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas M. Goare sold 17,286 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total value of $2,739,831.00. The disclosure for this sale can be found here. Insiders have sold 69,938 shares of company stock valued at $11,033,009 in the last quarter. 0.24% of the stock is currently owned by company insiders.

A number of equities analysts recently issued reports on the company. Canaccord Genuity reiterated a “hold” rating and issued a $170.00 target price on shares of McDonald’s Corporation in a report on Friday. Robert W. Baird reiterated an “outperform” rating and issued a $170.00 target price on shares of McDonald’s Corporation in a report on Tuesday, October 3rd. Stifel Nicolaus assumed coverage on McDonald’s Corporation in a report on Monday, October 2nd. They issued a “hold” rating and a $160.00 target price on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $180.00 target price (up from $170.00) on shares of McDonald’s Corporation in a report on Monday, October 2nd. Finally, Longbow Research upgraded McDonald’s Corporation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $154.05 to $183.00 in a report on Thursday, September 28th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $166.41.

McDonald’s Corporation (NYSE:MCD) opened at 159.60 on Friday. The firm’s 50-day moving average price is $158.15 and its 200-day moving average price is $149.51. McDonald’s Corporation has a 12-month low of $110.33 and a 12-month high of $161.72. The stock has a market cap of $129.28 billion, a price-to-earnings ratio of 26.13 and a beta of 0.69.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $1.01 per share. The ex-dividend date is Thursday, November 30th. This represents a $4.04 annualized dividend and a dividend yield of 2.53%. This is a boost from McDonald’s Corporation’s previous quarterly dividend of $0.94. McDonald’s Corporation’s dividend payout ratio (DPR) is currently 61.54%.

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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.

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

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