Cornerstone Wealth Management LLC Purchases 525 Shares of McDonald’s Co. (NYSE:MCD)

Cornerstone Wealth Management LLC boosted its position in shares of McDonald’s Co. (NYSE:MCD) by 6.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,013 shares of the fast-food giant’s stock after buying an additional 525 shares during the period. Cornerstone Wealth Management LLC’s holdings in McDonald’s were worth $2,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Perpetual Ltd purchased a new stake in McDonald’s during the first quarter valued at approximately $237,000. Walker Asset Management LLC boosted its position in shares of McDonald’s by 4.7% in the 1st quarter. Walker Asset Management LLC now owns 1,053 shares of the fast-food giant’s stock worth $297,000 after purchasing an additional 47 shares in the last quarter. Wedmont Private Capital grew its stake in McDonald’s by 6.5% during the 1st quarter. Wedmont Private Capital now owns 5,818 shares of the fast-food giant’s stock worth $1,567,000 after buying an additional 353 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in McDonald’s by 2.7% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,322 shares of the fast-food giant’s stock valued at $3,192,000 after buying an additional 297 shares in the last quarter. Finally, Lantz Financial LLC raised its stake in McDonald’s by 2.9% in the first quarter. Lantz Financial LLC now owns 5,072 shares of the fast-food giant’s stock valued at $1,430,000 after buying an additional 141 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Down 0.1 %

Shares of NYSE:MCD opened at $312.93 on Thursday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $315.36. The business has a fifty day moving average of $292.77 and a two-hundred day moving average of $273.19. The stock has a market cap of $225.52 billion, a P/E ratio of 26.56, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.17 earnings per share. On average, equities analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. McDonald’s’s dividend payout ratio is currently 60.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus dropped their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Barclays cut their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Guggenheim raised their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird lifted their target price on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, KeyCorp lifted their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $315.69.

McDonald’s Company Profile

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.