Cidel Asset Management Inc. Increases Stock Position in McDonald’s Co. (NYSE:MCD)

Cidel Asset Management Inc. increased its position in shares of McDonald’s Co. (NYSE:MCD) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,259 shares of the fast-food giant’s stock after buying an additional 77 shares during the period. Cidel Asset Management Inc.’s holdings in McDonald’s were worth $945,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCD. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s in the third quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s during the 3rd quarter worth approximately $31,000. Hara Capital LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at approximately $44,000. Financial Life Planners purchased a new position in shares of McDonald’s during the 4th quarter valued at approximately $49,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of McDonald’s during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.0 %

MCD opened at $294.39 on Friday. The firm has a market cap of $210.97 billion, a PE ratio of 25.85, a P/E/G ratio of 3.83 and a beta of 0.74. The business has a fifty day simple moving average of $290.73 and a 200-day simple moving average of $290.40. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.40%. McDonald’s’s dividend payout ratio is currently 62.16%.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,406 shares of company stock worth $2,150,857. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Truist Financial decreased their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Evercore ISI upped their price objective on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Finally, TD Cowen reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $318.86.

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.