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

Cigna Investments Inc. New lowered its stake in McDonald’s Co. (NYSE:MCD) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,409 shares of the fast-food giant’s stock after selling 77 shares during the period. Cigna Investments Inc. New’s holdings in McDonald’s were worth $2,256,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MCD. Kings Path Partners LLC purchased a new stake in McDonald’s in the second quarter worth $38,000. Keener Financial Planning LLC grew its position in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the 2nd quarter worth about $59,000. Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s in the 2nd quarter worth about $65,000. Finally, Macroview Investment Management LLC lifted its position in McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after acquiring an additional 208 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock worth $10,256,818 in the last three months. 0.23% of the stock is owned by company insiders.

McDonald’s Price Performance

Shares of NYSE MCD opened at $292.17 on Friday. The stock has a market cap of $209.59 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a fifty day moving average price of $298.25 and a 200-day moving average price of $275.58.

McDonald’s (NYSE:MCD) last issued its quarterly 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 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the business posted $3.19 EPS. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts expect that McDonald’s Co. will post 11.78 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. McDonald’s’s payout ratio is currently 58.65%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays upped their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America increased their target price on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $319.46.

About McDonald’s

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.