McDonald’s Corporation $MCD Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its holdings in McDonald’s Corporation (NYSE:MCD) by 19.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,052 shares of the fast-food giant’s stock after selling 2,179 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in McDonald’s were worth $2,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp increased its holdings in McDonald’s by 1.8% in the 2nd quarter. State Street Corp now owns 36,080,505 shares of the fast-food giant’s stock valued at $9,752,921,000 after purchasing an additional 646,675 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of McDonald’s during the second quarter worth about $1,359,276,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of McDonald’s by 17.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,637,785 shares of the fast-food giant’s stock worth $1,130,587,000 after purchasing an additional 533,448 shares in the last quarter. Swiss National Bank lifted its stake in shares of McDonald’s by 6.9% during the first quarter. Swiss National Bank now owns 2,089,980 shares of the fast-food giant’s stock worth $649,545,000 after purchasing an additional 134,480 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of McDonald’s by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,909,321 shares of the fast-food giant’s stock worth $593,366,000 after buying an additional 62,562 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Down 2.4%

Shares of NYSE:MCD opened at $275.30 on Thursday. The company has a fifty day simple moving average of $249.73 and a 200 day simple moving average of $282.16. The firm has a market cap of $194.30 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 3.26 and a beta of 0.42. McDonald’s Corporation has a 12-month low of $229.20 and a 12-month high of $341.75.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, November 4th. The fast-food giant reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.19. McDonald’s had a net margin of 32.38% and a negative return on equity of 826.29%. The firm had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the prior year, the firm posted $3.22 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that McDonald’s Corporation will post 12.91 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a $1.93 dividend. This represents a $7.72 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, December 1st. This is an increase from McDonald’s’s previous quarterly dividend of $1.86. McDonald’s’s payout ratio is presently 61.08%.

Trending Headlines about McDonald’s

Here are a few of the latest headlines about MCD:

• Positive Sentiment: McDonald’s and Uber are expanding their delivery and loyalty partnership across 14 markets, including the U.S. and U.K. The effort could increase delivery orders, improve customer engagement and generate incremental sales. McDonald’s and Uber expand delivery and loyalty tie-up
• Positive Sentiment: An analyst upgrade was reported overnight, providing a potential positive signal on the stock, though the headline does not identify the analyst’s rationale or price target. McDonald’s Stock Price Up 1.8% on Analyst Upgrade
• Positive Sentiment: McDonald’s is rolling out Pokémon Happy Meals and bringing back a popular holiday menu item. These promotions could attract customers and support near-term traffic, although their financial impact is uncertain. McDonald’s rolls out Pokémon Happy Meal

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Freedom Broker lowered McDonald’s from a “buy” rating to a “hold” rating and lowered their target price for the company from $305.00 to $298.00 in a research note on Thursday, November 5th. Guggenheim reduced their price target on McDonald’s from $290.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. BMO Capital Markets restated an “outperform” rating on shares of McDonald’s in a report on Thursday, November 5th. TD Cowen increased their price objective on shares of McDonald’s from $270.00 to $285.00 and gave the company a “hold” rating in a research report on Wednesday, November 4th. Finally, Gordon Haskett dropped their price objective on shares of McDonald’s from $315.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.82.

McDonald’s Company Profile

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app. The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.