Cornerstone Wealth Group LLC Has $8.78 Million Stock Position in McDonald's Co. (NYSE:MCD)

Cornerstone Wealth Group LLC increased its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 59.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,153 shares of the fast-food giant's stock after acquiring an additional 11,554 shares during the quarter. Cornerstone Wealth Group LLC's holdings in McDonald's were worth $8,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Roffman Miller Associates Inc. PA lifted its position in McDonald's by 1.7% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant's stock valued at $46,179,000 after buying an additional 2,546 shares during the last quarter. Shulman DeMeo Asset Management LLC lifted its position in McDonald's by 12.2% in the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant's stock valued at $312,000 after buying an additional 114 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of McDonald's during the fourth quarter worth about $4,286,000. Strait & Sound Wealth Management LLC acquired a new stake in shares of McDonald's during the fourth quarter worth about $211,000. Finally, First National Bank of Mount Dora Trust Investment Services lifted its position in shares of McDonald's by 2.8% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant's stock worth $3,269,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Trading Down 1.3 %

Shares of McDonald's stock traded down $3.33 during trading hours on Friday, hitting $254.84. 8,958,712 shares of the company were exchanged, compared to its average volume of 3,556,529. McDonald's Co. has a 1 year low of $245.73 and a 1 year high of $302.39. The business has a 50-day moving average of $263.31 and a 200-day moving average of $279.07. The stock has a market capitalization of $183.66 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.87 and a beta of 0.71.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald's had a negative return on equity of 180.74% and a net margin of 33.36%. The company had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.16 billion. During the same quarter last year, the company earned $2.63 EPS. McDonald's's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts anticipate that McDonald's Co. will post 12.19 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald's's dividend payout ratio is presently 56.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MCD shares. Citigroup reduced their price target on shares of McDonald's from $312.00 to $297.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 16th. Robert W. Baird lowered their price target on shares of McDonald's from $305.00 to $300.00 and set an "outperform" rating for the company in a report on Wednesday, May 1st. Wedbush decreased their price objective on shares of McDonald's from $330.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. JPMorgan Chase & Co. lifted their price target on McDonald's from $290.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, June 3rd. Finally, TD Cowen reissued a "buy" rating and set a $305.00 target price on shares of McDonald's in a research report on Thursday, June 13th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $315.14.

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 800 shares of the company's stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now owns 19 shares of the company's stock, valued at $5,225.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company's stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the transaction, the insider now owns 15,878 shares of the company's stock, valued at $4,209,734.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the company's stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The disclosure for this sale can be found here. Insiders have sold 4,095 shares of company stock valued at $1,100,625 over the last quarter. Company insiders own 0.23% of the company's stock.

About McDonald's

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.