McDonald’s Co. (NYSE:MCD) Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC boosted its stake in McDonald’s Co. (NYSE:MCD) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,645 shares of the fast-food giant’s stock after purchasing an additional 633 shares during the period. Cornerstone Wealth Group LLC’s holdings in McDonald’s were worth $7,144,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ascent Group LLC lifted its position in shares of McDonald’s by 4.0% during the second quarter. Ascent Group LLC now owns 22,901 shares of the fast-food giant’s stock worth $5,836,000 after purchasing an additional 881 shares in the last quarter. Aviso Wealth Management raised its position in shares of McDonald’s by 5.8% in the 2nd quarter. Aviso Wealth Management now owns 877 shares of the fast-food giant’s stock valued at $223,000 after purchasing an additional 48 shares in the last quarter. Magnolia Capital Advisors LLC bought a new position in McDonald’s during the 2nd quarter valued at $3,663,000. Silver Lake Advisory LLC raised its stake in shares of McDonald’s by 5.8% in the 2nd quarter. Silver Lake Advisory LLC now owns 11,616 shares of the fast-food giant’s stock valued at $2,960,000 after purchasing an additional 637 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of McDonald’s by 1.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 129,073 shares of the fast-food giant’s stock worth $32,894,000 after purchasing an additional 2,328 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $285.37 on Monday. The company has a market capitalization of $204.50 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73. The stock has a fifty day moving average of $291.07 and a 200-day moving average of $288.43. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings results 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. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $3.19 EPS. As a group, research analysts forecast that McDonald’s Co. will post 11.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on MCD shares. TD Cowen reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Wells Fargo & Company upped their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. BMO Capital Markets upped their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial reduced their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Citigroup upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and upped their target price for the stock from $311.00 to $334.00 in a research report on Friday, January 10th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $320.78.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,499 shares of the company’s 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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the sale, the insider now owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,905 shares of company stock worth $2,592,327 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

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.