Cherry Creek Investment Advisors Inc. Takes $213,000 Position in McDonald’s Co. (NYSE:MCD)

Cherry Creek Investment Advisors Inc. acquired a new stake in McDonald’s Co. (NYSE:MCD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 701 shares of the fast-food giant’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also made changes to their positions in MCD. Legal & General Group Plc lifted its stake in McDonald’s by 3.2% during the second 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 purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors lifted its stake in 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 valued at $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. Capital World Investors lifted its stake in McDonald’s by 39.7% during the first 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 last quarter. Finally, International Assets Investment Management LLC lifted its stake in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Stifel Nicolaus cut their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Truist Financial upped their price target on shares of McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Bank of America upped their price target on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a research report on Monday. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $285.00 in a research report on Wednesday. Finally, Barclays upped their price target on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $318.22.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the 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 sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the 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 sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,998 shares of company stock valued at $9,935,493 in the last ninety days. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 5.1 %

NYSE:MCD opened at $298.75 on Thursday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm’s fifty day simple moving average is $296.97 and its 200 day simple moving average is $274.51. The firm has a market capitalization of $215.30 billion, a PE ratio of 25.36, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the business posted $3.17 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business 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 of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. McDonald’s’s dividend payout ratio is 60.10%.

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.