Sound Income Strategies LLC Acquires 1,493 Shares of McDonald’s Co. (NYSE:MCD)

Sound Income Strategies LLC raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 37.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,498 shares of the fast-food giant’s stock after purchasing an additional 1,493 shares during the quarter. Sound Income Strategies LLC’s holdings in McDonald’s were worth $1,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Geode Capital Management LLC increased its holdings in McDonald’s by 1.4% in the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after purchasing an additional 220,365 shares during the last quarter. Wellington Management Group LLP boosted its holdings in 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 worth $4,592,892,000 after buying an additional 128,800 shares during the last quarter. Legal & General Group Plc grew its position in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of McDonald’s by 8.0% in the 2nd 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 period. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of analyst reports. Truist Financial decreased their price objective 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. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. BMO Capital Markets raised 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. UBS Group lifted their target price on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $321.22.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the transaction, the insider now directly owns 9,286 shares in the company, valued at $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. This represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,605 shares of company stock worth $2,508,102. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD opened at $284.49 on Friday. The firm has a 50 day simple moving average of $291.49 and a two-hundred day simple moving average of $287.90. The company 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. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion for 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%. During the same period last year, the firm posted $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that McDonald’s Co. will post 11.72 earnings per share for the current fiscal year.

About McDonald’s

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.