W.H. Cornerstone Investments Inc. Purchases New Position in McDonald's Corporation (NYSE:MCD)

Key Points

• W.H. Cornerstone Investments Inc. has made a new investment of $368,000 in McDonald's Corporation, acquiring 1,177 shares in the first quarter.
• McDonald's recently announced a quarterly dividend of $1.77 per share, with a dividend yield of 2.3% and a payout ratio of 62.49%.
• The stock has a consensus rating of "Hold" with a target price of $323.39, as analysts rate the stock variably with two sell, thirteen hold, and thirteen buy recommendations.

W.H. Cornerstone Investments Inc. acquired a new position in McDonald's Corporation (NYSE:MCD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,177 shares of the fast-food giant's stock, valued at approximately $368,000.

A number of other large investors have also recently made changes to their positions in MCD. Granite Bay Wealth Management LLC boosted its stake in McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC lifted its position in McDonald's by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after purchasing an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC raised its position in shares of McDonald's by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after buying an additional 33 shares in the last quarter. Security Financial Services INC. lifted its holdings in shares of McDonald's by 0.7% during the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock worth $1,575,000 after acquiring an additional 33 shares during the last quarter. Finally, Northeast Financial Consultants Inc grew its position in McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after acquiring an additional 34 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald's Stock Down 0.7%

MCD traded down $2.29 during mid-day trading on Friday, reaching $305.62. 2,591,671 shares of the company traded hands, compared to its average volume of 3,615,298. The company's fifty day moving average price is $298.73 and its 200-day moving average price is $304.17. The stock has a market capitalization of $218.53 billion, a P/E ratio of 26.19, a P/E/G ratio of 3.22 and a beta of 0.52. McDonald's Corporation has a 52-week low of $265.33 and a 52-week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a negative return on equity of 206.70% and a net margin of 32.21%. McDonald's's revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.97 earnings per share. As a group, sell-side analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio is currently 60.67%.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,280 shares of company stock valued at $2,215,178. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on MCD shares. Citigroup upped their target price on McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. BMO Capital Markets reaffirmed an "outperform" rating and set a $350.00 price objective (up from $345.00) on shares of McDonald's in a research report on Thursday. Truist Financial increased their target price on McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays lifted their price target on McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, KeyCorp reiterated an "overweight" rating and issued a $335.00 price objective (up previously from $325.00) on shares of McDonald's in a report on Thursday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald's currently has an average rating of "Hold" and a consensus price target of $326.87.

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.