McDonald’s Corporation (NYSE:MCD) Shares Acquired by Cornerstone Advisory LLC

Cornerstone Advisory LLC boosted its position in McDonald’s Corporation (NYSE:MCD) by 6.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,330 shares of the fast-food giant’s stock after acquiring an additional 190 shares during the quarter. Cornerstone Advisory LLC’s holdings in McDonald’s were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MCD. Red Door Wealth Management LLC increased its position in McDonald’s by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after purchasing an additional 109 shares in the last quarter. Aviva PLC grew its stake in McDonald’s by 5.6% during the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant’s stock worth $125,350,000 after buying an additional 23,024 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of McDonald’s by 5.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after acquiring an additional 18,393 shares in the last quarter. Sagespring Wealth Partners LLC increased its position in shares of McDonald’s by 22.9% in the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant’s stock worth $5,381,000 after acquiring an additional 3,212 shares in the last quarter. Finally, Segment Wealth Management LLC raised its stake in shares of McDonald’s by 1.7% in the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant’s stock valued at $17,078,000 after acquiring an additional 937 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial increased their price target on McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Morgan Stanley upped their target price on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Melius started coverage on McDonald’s in a report on Monday, July 14th. They set a “sell” rating and a $250.00 target price on the stock. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a report on Thursday, July 10th. Finally, Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $322.00.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,817 shares of company stock worth $1,147,992. 0.25% of the stock is currently owned by insiders.

McDonald’s Stock Performance

McDonald’s stock opened at $298.25 on Friday. The firm’s 50-day moving average is $301.00 and its 200-day moving average is $303.02. McDonald’s Corporation has a 1 year low of $250.23 and a 1 year high of $326.32. The company has a market cap of $213.26 billion, a P/E ratio of 26.32, a PEG ratio of 3.12 and a beta of 0.53.

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

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.37%. McDonald’s’s dividend payout ratio is presently 62.49%.

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.