Cobblestone Capital Advisors LLC NY Has $2.03 Million Position in McDonald’s Corporation (NYSE:MCD)

Cobblestone Capital Advisors LLC NY increased its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,491 shares of the fast-food giant’s stock after acquiring an additional 80 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in McDonald’s were worth $2,028,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Nuveen LLC acquired a new position in shares of McDonald’s during the 1st quarter worth approximately $1,324,961,000. Cooper Financial Group increased its position in McDonald’s by 12.8% during the 1st quarter. Cooper Financial Group now owns 2,268 shares of the fast-food giant’s stock worth $709,000 after buying an additional 258 shares during the period. Strengthening Families & Communities LLC increased its position in McDonald’s by 1,800.0% during the 1st quarter. Strengthening Families & Communities LLC now owns 380 shares of the fast-food giant’s stock worth $119,000 after buying an additional 360 shares during the period. Biltmore Family Office LLC increased its position in McDonald’s by 47.6% during the 1st quarter. Biltmore Family Office LLC now owns 4,652 shares of the fast-food giant’s stock worth $1,453,000 after buying an additional 1,500 shares during the period. Finally, Covington Investment Advisors Inc. increased its position in McDonald’s by 0.6% during the 1st quarter. Covington Investment Advisors Inc. now owns 30,067 shares of the fast-food giant’s stock worth $9,392,000 after buying an additional 170 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,280 shares of company stock worth $2,215,178 over the last ninety days. Insiders own 0.25% of the company’s stock.

McDonald’s Trading Down 0.7%

NYSE:MCD opened at $305.62 on Friday. The stock has a market cap of $218.09 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 3.19 and a beta of 0.52. The stock’s 50-day moving average is $298.57 and its 200-day moving average is $304.49. McDonald’s Corporation has a 1-year low of $265.33 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The firm’s revenue was up 5.4% 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s dividend payout ratio is presently 60.67%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Robert W. Baird increased their price objective on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. Loop Capital cut McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Melius began coverage on McDonald’s in a research report on Monday, July 14th. They issued a “sell” rating and a $250.00 price target on the stock. Finally, Evercore ISI raised their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $326.87.

McDonald’s Company 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.