Cornerstone Wealth Group LLC Has $7.31 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Cornerstone Wealth Group LLC increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,012 shares of the fast-food giant’s stock after buying an additional 157 shares during the period. Cornerstone Wealth Group LLC’s holdings in McDonald’s were worth $7,312,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new position in McDonald’s during the 2nd quarter valued at about $38,000. Keener Financial Planning LLC lifted its position in McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC acquired a new position in McDonald’s during the 2nd quarter valued at about $59,000. Bbjs Financial Advisors LLC acquired a new position in McDonald’s during the 2nd quarter valued at about $65,000. Finally, Macroview Investment Management LLC lifted its position in McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after purchasing an additional 208 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is owned by insiders.

McDonald’s Trading Down 1.1 %

NYSE MCD opened at $291.64 on Thursday. The company has a market cap of $209.21 billion, a PE ratio of 25.52, a PEG ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The stock has a 50 day moving average of $298.19 and a 200-day moving average of $275.47.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.19 EPS. As a group, sell-side analysts predict that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 61.94%.

Analysts Set New Price Targets

MCD has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Stifel Nicolaus cut their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets increased their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup increased their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Thirteen research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $318.74.

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.