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

Sound Income Strategies LLC boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 37.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in McDonald’s in the 3rd quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new stake in McDonald’s during the third quarter valued at about $31,000. Hara Capital LLC acquired a new stake in shares of McDonald’s in the third quarter valued at about $44,000. Peterson Financial Group Inc. bought a new position in shares of McDonald’s in the third quarter worth about $58,000. Finally, FSA Wealth Management LLC acquired a new position in shares of McDonald’s during the 3rd quarter worth about $72,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Loop Capital reaffirmed a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Wells Fargo & Company raised their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. UBS Group raised their price target on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.22.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the sale, the insider now owns 8,187 shares of the company’s stock, valued at $2,383,235.70. This trade represents a 11.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $453,882. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,605 shares of company stock valued at $2,508,102 over the last ninety days. 0.23% of the stock is owned by insiders.

McDonald’s Trading Up 1.1 %

NYSE MCD opened at $284.49 on Friday. The firm has a market cap of $203.87 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 3.66 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a 50 day moving average of $291.49 and a 200-day moving average of $287.90.

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 firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $3.19 EPS. On average, analysts forecast that McDonald’s Co. will post 11.72 earnings per share for the current 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.