McDonald’s Co. (NYSE:MCD) Shares Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC grew its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 30,000 shares of the fast-food giant’s stock after acquiring an additional 600 shares during the quarter. Cornerstone Advisors LLC’s holdings in McDonald’s were worth $9,135,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares in the last quarter. Capital World Investors raised its stake in shares of McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. International Assets Investment Management LLC grew its stake in McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in McDonald’s by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,015,441 shares of the fast-food giant’s stock valued at $613,722,000 after purchasing an additional 22,780 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of MCD opened at $290.89 on Thursday. The stock has a market capitalization of $208.46 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.87 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a fifty day moving average of $300.06 and a 200-day moving average of $277.84.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.19 earnings per share. As a group, equities analysts forecast that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. McDonald’s’s payout ratio is currently 58.65%.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock worth $10,698,289 over the last three months. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MCD. Truist Financial cut their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, UBS Group lifted their target price on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $319.46.

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.