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

Cornerstone Wealth Management LLC raised its stake in shares of McDonald’s Co. (NYSE:MCD) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,013 shares of the fast-food giant’s stock after purchasing an additional 525 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in McDonald’s were worth $2,745,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s in the first quarter worth about $28,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s during the second quarter valued at approximately $38,000. Keener Financial Planning LLC boosted 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 purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s during the 2nd quarter valued at approximately $65,000. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MCD. TD Cowen increased their target price on McDonald’s from $280.00 to $300.00 and gave the stock a “hold” rating in a research note on Wednesday. BMO Capital Markets decreased their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Barclays reduced their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group increased their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $315.69.

McDonald’s Trading Down 0.1 %

Shares of McDonald’s stock opened at $312.93 on Thursday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $315.36. The stock has a 50 day moving average of $292.77 and a 200 day moving average of $273.19. The firm has a market cap of $225.52 billion, a PE ratio of 26.56, 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 for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business posted $3.17 earnings per share. As a group, equities research analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current fiscal 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. This is an increase 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 dividend yield of 2.26%. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Buying and Selling

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,097 shares of company stock worth $10,221,233. Corporate insiders own 0.23% of the company’s stock.

McDonald’s 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.