Cornerstone Advisors LLC Acquires 1,600 Shares of McDonald’s Co. (NYSE:MCD)

Cornerstone Advisors LLC boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 5.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 31,600 shares of the fast-food giant’s stock after buying an additional 1,600 shares during the quarter. Cornerstone Advisors LLC’s holdings in McDonald’s were worth $9,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GDS Wealth Management lifted its position in McDonald’s by 1.4% during the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the period. Boltwood Capital Management lifted its position in McDonald’s by 1.9% during the 4th quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock valued at $546,000 after purchasing an additional 35 shares during the period. Pettee Investors Inc. lifted its position in McDonald’s by 0.7% during the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after purchasing an additional 35 shares during the period. Modus Advisors LLC lifted its position in McDonald’s by 0.4% during the 4th quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant’s stock valued at $2,724,000 after purchasing an additional 36 shares during the period. Finally, Independent Wealth Network Inc. lifted its position in McDonald’s by 5.1% during the 4th quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock valued at $213,000 after purchasing an additional 36 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, EVP Manuel Jm Steijaert sold 10,459 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $308.71, for a total transaction of $3,228,797.89. Following the completion of the sale, the executive vice president now owns 4,606 shares in the company, valued at approximately $1,421,918.26. This represents a 69.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,504 shares of company stock valued at $10,206,575. 0.23% of the stock is currently owned by company insiders.

McDonald’s Trading Down 1.4 %

NYSE:MCD opened at $316.94 on Tuesday. The stock has a 50 day moving average of $296.24 and a two-hundred day moving average of $296.56. The firm has a market cap of $226.44 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. On average, research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird raised their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Piper Sandler dropped their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Barclays boosted their price target on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. BMO Capital Markets lifted their target price on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Citigroup lifted their target price on McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

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.