Cornerstone Wealth Management LLC Increases Stock Holdings in McDonald’s Co. (NYSE:MCD)

Cornerstone Wealth Management LLC increased its stake in McDonald’s Co. (NYSE:MCD) by 5.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,510 shares of the fast-food giant’s stock after acquiring an additional 497 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in McDonald’s were worth $2,757,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MCD. International Assets Investment Management LLC raised its position in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in McDonald’s by 542.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after buying an additional 677,139 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in McDonald’s during the 3rd quarter worth approximately $121,254,000. Ameriprise Financial Inc. raised its holdings in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its position in shares of McDonald’s by 3,580.1% in the third quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after acquiring an additional 261,350 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the sale, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,605 shares of company stock worth $2,508,102 over the last three months. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of several recent research reports. Truist Financial reduced 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. Barclays raised their price target on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. UBS Group increased their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wedbush restated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $321.22.

McDonald’s Stock Performance

McDonald’s stock opened at $284.49 on Friday. The firm has a 50 day moving average price of $291.49 and a 200 day moving average price of $287.90. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company has a market capitalization of $203.87 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73.

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

McDonald’s Company 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.