Cigna Investments Inc. New Sells 77 Shares of McDonald’s Co. (NYSE:MCD)

Cigna Investments Inc. New lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,409 shares of the fast-food giant’s stock after selling 77 shares during the quarter. Cigna Investments Inc. New’s holdings in McDonald’s were worth $2,256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCD. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter worth about $38,000. Keener Financial Planning LLC lifted its stake in shares of McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in McDonald’s in the 2nd quarter valued at $59,000. Bbjs Financial Advisors LLC purchased a new stake in McDonald’s in the second quarter worth $65,000. Finally, Macroview Investment Management LLC lifted its position in shares of McDonald’s by 433.3% during the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MCD. JPMorgan Chase & Co. raised their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. BMO Capital Markets upped their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Truist Financial dropped their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Bank of America raised their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $292.17 on Friday. The company has a market cap of $209.59 billion, a PE ratio of 25.65, a P/E/G ratio of 3.85 and a beta of 0.73. The business has a 50-day simple moving average of $298.25 and a two-hundred day simple moving average of $275.58. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 EPS. On average, sell-side analysts predict that McDonald’s Co. will post 11.78 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

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.