Cornerstone Wealth Management LLC Buys 497 Shares of McDonald’s Co. (NYSE:MCD)

Cornerstone Wealth Management LLC grew its stake in McDonald’s Co. (NYSE:MCD) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,510 shares of the fast-food giant’s stock after acquiring an additional 497 shares during the period. Cornerstone Wealth Management LLC’s holdings in McDonald’s were worth $2,757,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in McDonald’s by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after purchasing an additional 220,365 shares during the period. Wellington Management Group LLP increased its stake in shares of McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after buying an additional 128,800 shares during the period. Legal & General Group Plc raised 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 acquiring an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in 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 worth $1,216,677,000 after acquiring an additional 354,196 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MCD. Wells Fargo & Company boosted their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Morgan Stanley lowered their target price on McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a report on Tuesday. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and cut their price target for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Truist Financial decreased their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $321.22.

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,605 shares of company stock valued at $2,508,102. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 1.1 %

Shares of NYSE MCD opened at $284.49 on Friday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market cap of $203.87 billion, a P/E ratio of 24.98, a P/E/G ratio of 3.66 and a beta of 0.73. The business’s 50 day moving average price is $291.49 and its 200 day moving average price is $287.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 EPS. As a group, research analysts expect that McDonald’s Co. will post 11.72 earnings per share for the current year.

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.