Cornerstone Advisors LLC Acquires 44,000 Shares of McDonald’s Corporation $MCD

Cornerstone Advisors LLC raised its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 139.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,600 shares of the fast-food giant’s stock after acquiring an additional 44,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in McDonald’s were worth $22,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI boosted its stake in McDonald’s by 8.9% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 30,515 shares of the fast-food giant’s stock worth $8,915,000 after purchasing an additional 2,492 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of McDonald’s by 5.2% in the second quarter. Avantax Advisory Services Inc. now owns 114,866 shares of the fast-food giant’s stock worth $33,560,000 after buying an additional 5,693 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of McDonald’s by 9.7% in the second quarter. Westwood Holdings Group Inc. now owns 2,327 shares of the fast-food giant’s stock valued at $680,000 after acquiring an additional 205 shares during the period. MJP Associates Inc. ADV boosted its position in shares of McDonald’s by 7.6% in the second quarter. MJP Associates Inc. ADV now owns 3,194 shares of the fast-food giant’s stock valued at $933,000 after acquiring an additional 225 shares during the period. Finally, Cetera Investment Advisers grew its stake in McDonald’s by 3.6% during the second quarter. Cetera Investment Advisers now owns 320,799 shares of the fast-food giant’s stock valued at $93,728,000 after acquiring an additional 11,210 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCD. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Mizuho upgraded McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Wells Fargo & Company lifted their price objective on McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Truist Financial reduced their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a report on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $323.91.

McDonald’s Stock Down 0.3%

NYSE MCD opened at $306.74 on Friday. The stock’s 50-day simple moving average is $303.37 and its two-hundred day simple moving average is $304.64. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The company has a market capitalization of $218.45 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.23 earnings per share. On average, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is 63.48%.

Insiders Place Their Bets

In other news, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the sale, the executive vice president directly owned 4,606 shares in the company, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 15,134 shares of company stock valued at $4,570,716. 0.25% of the stock is currently owned by corporate insiders.

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.