Cornerstone Planning Group LLC Boosts Stake in McDonald’s Corporation (NYSE:MCD)

Cornerstone Planning Group LLC increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 29.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 367 shares of the fast-food giant’s stock after purchasing an additional 84 shares during the period. Cornerstone Planning Group LLC’s holdings in McDonald’s were worth $117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald’s during the 4th quarter worth about $25,000. Atala Financial Inc purchased a new stake in shares of McDonald’s in the 4th quarter valued at approximately $26,000. Abound Financial LLC acquired a new position in shares of McDonald’s in the first quarter valued at approximately $30,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s in the first quarter valued at approximately $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Down 0.6%

Shares of NYSE:MCD opened at $291.70 on Wednesday. McDonald’s Corporation has a 52-week low of $243.53 and a 52-week high of $326.32. The stock’s fifty day simple moving average is $305.18 and its 200-day simple moving average is $302.45. The company has a market capitalization of $208.57 billion, a P/E ratio of 25.75, a P/E/G ratio of 3.06 and a beta of 0.53.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 earnings per share. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. McDonald’s’s dividend payout ratio (DPR) is 62.49%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of analyst reports. Truist Financial set a $350.00 price objective on shares of McDonald’s in a report on Friday, May 2nd. Redburn Atlantic reiterated a “sell” rating and set a $260.00 price target (down from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Barclays lifted their price target on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, Robert W. Baird boosted their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $321.17.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the sale, the insider owned 10,222 shares of the company’s stock, valued at $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,817 shares of company stock valued at $865,843 over the last 90 days. Company insiders own 0.25% of the company’s stock.

McDonald’s Company 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.