Cornerstone Advisors LLC Sells 200 Shares of McDonald’s Co. (NYSE:MCD)

Cornerstone Advisors LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,400 shares of the fast-food giant’s stock after selling 200 shares during the quarter. Cornerstone Advisors LLC’s holdings in McDonald’s were worth $7,492,000 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 MCD. Aigen Investment Management LP purchased a new stake in McDonald’s during the 4th quarter worth about $4,286,000. Hantz Financial Services Inc. bought a new position in shares of McDonald’s in the second quarter valued at approximately $6,612,000. California State Teachers Retirement System grew its stake in McDonald’s by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock valued at $350,157,000 after acquiring an additional 15,863 shares in the last quarter. Keystone Financial Group increased its holdings in McDonald’s by 5.9% during the 4th quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock worth $2,667,000 after acquiring an additional 499 shares during the period. Finally, Brevan Howard Capital Management LP lifted its stake in McDonald’s by 411.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after purchasing an additional 6,031 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCD shares. Tigress Financial boosted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Citigroup upped their target price on McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on shares of McDonald’s in a research report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price objective on the stock. Finally, Morgan Stanley dropped their target price on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.37.

McDonald’s Stock Up 1.4 %

Shares of McDonald’s stock opened at $296.53 on Monday. The company’s fifty day simple moving average is $272.89 and its two-hundred day simple moving average is $270.47. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The firm has a market cap of $213.70 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.17 earnings per share. As a group, sell-side analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s payout ratio is currently 56.71%.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.