Cornerstone Advisors LLC Has $22.09 Million Holdings in McDonald’s Corporation $MCD

Cornerstone Advisors LLC grew its position in shares of McDonald’s Corporation (NYSE:MCD) by 139.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,600 shares of the fast-food giant’s stock after acquiring an additional 44,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in McDonald’s were worth $22,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of MCD. WealthPlan Investment Management LLC raised its holdings in McDonald’s by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after buying an additional 32 shares during the last quarter. Security Financial Services INC. increased its position in shares of McDonald’s by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after acquiring an additional 33 shares in the last quarter. AGP Franklin LLC raised its holdings in shares of McDonald’s by 0.4% in the 1st quarter. AGP Franklin LLC now owns 10,001 shares of the fast-food giant’s stock worth $3,125,000 after acquiring an additional 35 shares during the last quarter. WealthTrust Axiom LLC lifted its position in McDonald’s by 1.8% in the 1st quarter. WealthTrust Axiom LLC now owns 1,946 shares of the fast-food giant’s stock valued at $608,000 after acquiring an additional 35 shares in the last quarter. Finally, Certior Financial Group LLC boosted its stake in McDonald’s by 2.6% during the 1st quarter. Certior Financial Group LLC now owns 1,367 shares of the fast-food giant’s stock valued at $427,000 after purchasing an additional 35 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,134 shares of company stock worth $4,570,716 in the last quarter. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on MCD shares. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. BMO Capital Markets reiterated an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. TD Cowen increased their price target on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Finally, Wells Fargo & Company upped their target price on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $323.91.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $306.74 on Friday. The firm has a market cap of $218.45 billion, a PE ratio of 26.28, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The stock has a fifty day moving average price of $303.37 and a 200-day moving average price of $304.64.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period last year, the firm posted $3.23 earnings per share. McDonald’s’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s payout ratio is currently 63.48%.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.