McDonald’s Corporation (MCD) Shares Bought by Cornerstone Advisory LLP
Cornerstone Advisory LLP boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,456 shares of the fast-food giant’s stock after acquiring an additional 3 shares during the quarter. Cornerstone Advisory LLP’s holdings in McDonald’s Corporation were worth $529,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the business. Jennison Associates LLC raised its position in McDonald’s Corporation by 681.3% in the second quarter. Jennison Associates LLC now owns 6,109,830 shares of the fast-food giant’s stock worth $935,782,000 after acquiring an additional 5,327,778 shares in the last quarter. Legal & General Group Plc raised its position in McDonald’s Corporation by 3.5% in the second quarter. Legal & General Group Plc now owns 4,388,893 shares of the fast-food giant’s stock worth $672,205,000 after acquiring an additional 147,589 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in McDonald’s Corporation by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,009,947 shares of the fast-food giant’s stock worth $614,164,000 after acquiring an additional 127,840 shares in the last quarter. Swiss National Bank raised its position in McDonald’s Corporation by 18.0% in the first quarter. Swiss National Bank now owns 3,653,548 shares of the fast-food giant’s stock worth $473,536,000 after acquiring an additional 558,300 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in McDonald’s Corporation by 6.8% in the second quarter. Prudential Financial Inc. now owns 2,805,231 shares of the fast-food giant’s stock worth $429,649,000 after acquiring an additional 179,334 shares in the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.
Several research analysts have issued reports on MCD shares. Mizuho reiterated a “buy” rating and issued a $173.00 price objective (up previously from $170.00) on shares of McDonald’s Corporation in a research report on Wednesday, September 13th. Robert W. Baird reiterated a “buy” rating and issued a $170.00 price objective on shares of McDonald’s Corporation in a research report on Friday, September 1st. Deutsche Bank AG set a $185.00 target price on McDonald’s Corporation and gave the company a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research lowered McDonald’s Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $175.00 target price on shares of McDonald’s Corporation in a report on Friday, September 8th. Eleven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $169.96.
Shares of McDonald’s Corporation (MCD) opened at $168.30 on Wednesday. The company has a market capitalization of $133,074.19, a PE ratio of 26.08, a P/E/G ratio of 2.73 and a beta of 0.67. The company has a current ratio of 1.28, a quick ratio of 1.27 and a debt-to-equity ratio of -8.17. McDonald’s Corporation has a twelve month low of $117.71 and a twelve month high of $170.92.
McDonald’s Corporation (NYSE:MCD) last announced its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 EPS for the quarter, beating the consensus estimate of $1.75 by $0.01. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.75 billion. McDonald’s Corporation had a negative return on equity of 216.45% and a net margin of 24.19%. The company’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. research analysts predict that McDonald’s Corporation will post 6.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $1.01 per share. This is an increase from McDonald’s Corporation’s previous quarterly dividend of $0.94. This represents a $4.04 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, November 30th. McDonald’s Corporation’s dividend payout ratio (DPR) is presently 54.26%.
In related news, VP James R. Sappington sold 8,046 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,327,590.00. Following the sale, the vice president now directly owns 15,739 shares in the company, valued at approximately $2,596,935. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.
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About McDonald’s Corporation
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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