Cornerstone Wealth Management LLC Sells 48,816 Shares of Mcdonald’s Corp (MCD)

Cornerstone Wealth Management LLC trimmed its position in Mcdonald’s Corp (NYSE:MCD) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,268 shares of the fast-food giant’s stock after selling 48,816 shares during the period. Cornerstone Wealth Management LLC’s holdings in Mcdonald’s were worth $1,900,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in Mcdonald’s by 5.5% in the 2nd quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock valued at $3,052,941,000 after purchasing an additional 1,014,792 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new position in Mcdonald’s in the 2nd quarter valued at about $1,191,239,000. Janus Henderson Group PLC lifted its holdings in Mcdonald’s by 5.4% in the 2nd quarter. Janus Henderson Group PLC now owns 8,107,972 shares of the fast-food giant’s stock valued at $1,270,446,000 after purchasing an additional 412,750 shares in the last quarter. Magellan Asset Management Ltd lifted its holdings in Mcdonald’s by 0.4% in the 2nd quarter. Magellan Asset Management Ltd now owns 5,955,794 shares of the fast-food giant’s stock valued at $933,213,000 after purchasing an additional 20,873 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Mcdonald’s by 9.6% in the 2nd quarter. Morgan Stanley now owns 5,947,311 shares of the fast-food giant’s stock valued at $931,884,000 after purchasing an additional 522,333 shares in the last quarter. Institutional investors own 66.94% of the company’s stock.

A number of research firms have issued reports on MCD. Robert W. Baird restated a “buy” rating and issued a $200.00 target price on shares of Mcdonald’s in a report on Wednesday, October 24th. JPMorgan Chase & Co. set a $180.00 target price on shares of Mcdonald’s and gave the company a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Mcdonald’s from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a report on Friday. Royal Bank of Canada set a $190.00 target price on shares of Mcdonald’s and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, Jefferies Financial Group increased their price objective on shares of Mcdonald’s from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 24th. Seven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Mcdonald’s currently has an average rating of “Buy” and an average target price of $188.31.



In related news, insider Ian Frederick Borden sold 4,782 shares of the stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $177.68, for a total transaction of $849,665.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Easterbrook sold 201,123 shares of the stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the sale, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at approximately $8,592,697.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,041 shares of company stock valued at $38,839,407. Corporate insiders own 0.22% of the company’s stock.

MCD opened at $173.34 on Monday. The company has a market cap of $134.48 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 2.55 and a beta of 0.66. Mcdonald’s Corp has a 1 year low of $146.84 and a 1 year high of $178.70.

Mcdonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.11. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.28 billion. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 130.19%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. Analysts expect that Mcdonald’s Corp will post 7.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, November 30th. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s dividend payout ratio is 60.66%.

Mcdonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.

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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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