Cornerstone Wealth Management LLC Has $2.94 Million Stake in McDonald’s Corporation (NYSE:MCD)

Cornerstone Wealth Management LLC reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,413 shares of the fast-food giant’s stock after selling 97 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in McDonald’s were worth $2,940,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in shares of McDonald’s during the fourth quarter worth approximately $25,000. Atala Financial Inc bought a new position in McDonald’s during the 4th quarter worth $26,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald’s during the fourth quarter worth $29,000. Fairway Wealth LLC boosted its position in shares of McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after acquiring an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new position in McDonald’s during the fourth quarter worth about $30,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MCD shares. Truist Financial set a $350.00 price objective on shares of McDonald’s in a report on Friday, May 2nd. KeyCorp increased their price target on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and cut their target price for the company from $346.00 to $315.00 in a research report on Friday, June 6th. Finally, Erste Group Bank cut McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $321.79.

McDonald’s Stock Performance

Shares of MCD opened at $292.35 on Wednesday. McDonald’s Corporation has a 52 week low of $243.53 and a 52 week high of $326.32. The stock has a market capitalization of $209.04 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 3.09 and a beta of 0.56. The stock has a fifty day moving average of $311.66 and a 200-day moving average of $302.95.

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

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.42%. McDonald’s’s dividend payout ratio is presently 62.49%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the transaction, the insider now directly owns 11,161 shares of the company’s stock, valued at $3,516,496.27. This trade represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

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.