Cornerstone Wealth Management LLC Sells 97 Shares of McDonald’s Corporation (NYSE:MCD)

Cornerstone Wealth Management LLC lowered its position in McDonald’s Corporation (NYSE:MCD) by 1.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,413 shares of the fast-food giant’s stock after selling 97 shares during the period. Cornerstone Wealth Management LLC’s holdings in McDonald’s were worth $2,940,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in McDonald’s by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock valued at $20,341,391,000 after acquiring an additional 526,466 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of McDonald’s by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock valued at $4,652,768,000 after purchasing an additional 157,458 shares in the last quarter. Capital Research Global Investors grew its stake in McDonald’s by 5.2% during the fourth quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant’s stock worth $3,088,037,000 after purchasing an additional 531,070 shares during the period. Norges Bank bought a new stake in McDonald’s in the fourth quarter worth approximately $2,725,190,000. Finally, Northern Trust Corp lifted its stake in McDonald’s by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after buying an additional 895,896 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

MCD opened at $292.35 on Wednesday. McDonald’s Corporation has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The firm has a market capitalization of $209.04 billion, a P/E ratio of 25.80, a PEG ratio of 3.09 and a beta of 0.56. The company’s 50-day moving average is $311.66 and its 200 day moving average is $302.95.

McDonald’s (NYSE:MCD) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter last year, the firm earned $2.70 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.42%. McDonald’s’s dividend payout ratio is currently 62.49%.

Analyst Ratings Changes

Several research firms have recently weighed in on MCD. Citigroup lifted their price objective on shares of McDonald’s from $353.00 to $364.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Erste Group Bank lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Northcoast Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. KeyCorp boosted their target price on McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, Robert W. Baird increased their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s has a consensus rating of “Hold” and an average target price of $321.79.

McDonald’s 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.