Cim Investment Management Inc. Has $2.01 Million Position in McDonald’s Co. (NYSE:MCD)

Cim Investment Management Inc. cut its holdings in McDonald’s Co. (NYSE:MCD) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,613 shares of the fast-food giant’s stock after selling 142 shares during the quarter. McDonald’s makes up 0.6% of Cim Investment Management Inc.’s portfolio, making the stock its 27th largest position. Cim Investment Management Inc.’s holdings in McDonald’s were worth $2,014,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in McDonald’s by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after buying an additional 220,365 shares during the last quarter. Wellington Management Group LLP raised its position in McDonald’s by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after buying an additional 128,800 shares during the last quarter. Legal & General Group Plc raised its position in McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after buying an additional 188,888 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after buying an additional 354,196 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now directly owns 11,484 shares in the company, valued at approximately $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,099 shares of company stock worth $10,273,786. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 0.5 %

MCD traded up $1.38 on Thursday, reaching $297.48. The stock had a trading volume of 131,572 shares, compared to its average volume of 3,463,038. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a 50-day moving average of $299.17 and a 200-day moving average of $280.71. The company has a market capitalization of $213.18 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 4.01 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.38%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 62.16%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of recent research reports. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. TD Cowen reaffirmed a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research report on Tuesday, October 29th. Morgan Stanley boosted their price target on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group boosted their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Twelve investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $320.50.

McDonald’s 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.