Cambridge Financial Group Inc. Sells 2,955 Shares of McDonald’s Co. (NYSE:MCD)

Cambridge Financial Group Inc. decreased its holdings in McDonald’s Co. (NYSE:MCDGet Rating) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,629 shares of the fast-food giant’s stock after selling 2,955 shares during the quarter. McDonald’s makes up 3.4% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 13th biggest holding. Cambridge Financial Group Inc.’s holdings in McDonald’s were worth $7,574,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in McDonald’s by 4.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,611 shares of the fast-food giant’s stock valued at $432,000 after buying an additional 65 shares during the period. Mount Yale Investment Advisors LLC grew its position in McDonald’s by 3.6% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 2,701 shares of the fast-food giant’s stock worth $724,000 after purchasing an additional 93 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of McDonald’s by 9.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 51,734 shares of the fast-food giant’s stock valued at $13,868,000 after acquiring an additional 4,433 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of McDonald’s by 92.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,764 shares of the fast-food giant’s stock valued at $5,298,000 after acquiring an additional 9,501 shares during the period. Finally, TrueWealth Advisors LLC bought a new position in shares of McDonald’s during the 4th quarter valued at approximately $246,000. Institutional investors own 68.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MCD shares. JPMorgan Chase & Co. increased their target price on shares of McDonald’s from $260.00 to $275.00 in a research report on Tuesday, May 3rd. Atlantic Securities raised shares of McDonald’s from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $245.00 to $278.00 in a report on Wednesday, June 29th. Guggenheim raised their price objective on shares of McDonald’s to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Truist Financial raised their price objective on shares of McDonald’s from $273.00 to $276.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Finally, Morgan Stanley cut their price objective on shares of McDonald’s from $287.00 to $285.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Seven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $284.19.

McDonald’s Stock Down 0.5 %

NYSE:MCD traded down $1.41 on Friday, reaching $259.23. 1,818,555 shares of the company’s stock were exchanged, compared to its average volume of 2,428,315. The firm has a market capitalization of $191.71 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 3.18 and a beta of 0.56. The business has a fifty day moving average of $250.10 and a 200-day moving average of $247.83. McDonald’s Co. has a 52-week low of $217.68 and a 52-week high of $271.15.

McDonald’s (NYSE:MCDGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. McDonald’s had a net margin of 25.77% and a negative return on equity of 135.58%. The company had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same period in the prior year, the firm earned $2.37 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that McDonald’s Co. will post 9.8 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Thursday, September 1st will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, August 31st. McDonald’s’s payout ratio is currently 67.98%.

Insider Activity

In other news, insider Ian Frederick Borden sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $255.80, for a total transaction of $2,046,400.00. Following the completion of the sale, the insider now owns 7,131 shares in the company, valued at $1,824,109.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other McDonald’s news, insider Ian Frederick Borden sold 8,000 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.80, for a total value of $2,046,400.00. Following the sale, the insider now owns 7,131 shares of the company’s stock, valued at $1,824,109.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Catherine A. Hoovel sold 2,371 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total value of $606,075.02. Following the sale, the senior vice president now directly owns 1,184 shares in the company, valued at approximately $302,654.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,191 shares of company stock valued at $5,250,365. 0.25% of the stock is currently owned by company insiders.

About McDonald’s

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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

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