Cornerstone Wealth Management LLC Increases Position in McDonald’s Co. (NYSE:MCD)

Cornerstone Wealth Management LLC increased its holdings in McDonald’s Co. (NYSE:MCD) by 7.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,471 shares of the fast-food giant’s stock after purchasing an additional 598 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in McDonald’s were worth $2,389,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kelly Lawrence W & Associates Inc. CA increased its stake in shares of McDonald’s by 12.5% during the third quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,090 shares of the fast-food giant’s stock worth $551,000 after purchasing an additional 233 shares in the last quarter. Jentner Corp increased its stake in McDonald’s by 6.2% during the 3rd quarter. Jentner Corp now owns 3,750 shares of the fast-food giant’s stock worth $988,000 after buying an additional 220 shares in the last quarter. Jackson Wealth Management LLC raised its holdings in shares of McDonald’s by 1.6% during the third quarter. Jackson Wealth Management LLC now owns 28,652 shares of the fast-food giant’s stock valued at $7,548,000 after acquiring an additional 441 shares during the last quarter. JT Stratford LLC increased its position in shares of McDonald’s by 2.4% during the third quarter. JT Stratford LLC now owns 2,720 shares of the fast-food giant’s stock worth $717,000 after purchasing an additional 64 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of McDonald’s by 14.3% during the third quarter. Sei Investments Co. now owns 292,687 shares of the fast-food giant’s stock worth $77,105,000 after purchasing an additional 36,657 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.9 %

MCD stock opened at $250.00 on Friday. The business’s fifty day moving average price is $261.68 and its 200 day moving average price is $278.32. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39. The company has a market capitalization of $180.17 billion, a PE ratio of 21.22, a P/E/G ratio of 2.81 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the company earned $2.63 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts predict that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Wall Street Analysts Forecast Growth

MCD has been the topic of several recent research reports. Wedbush lowered their target price on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Stifel Nicolaus dropped their price objective on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. UBS Group decreased their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Finally, Robert W. Baird cut their price target on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.89.

Insider Activity

In related news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the transaction, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,593 shares of company stock worth $1,472,518. Corporate insiders own 0.23% of the company’s stock.

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.