Strait & Sound Wealth Management LLC Grows Position in McDonald’s Corporation $MCD

Strait & Sound Wealth Management LLC boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 160.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,008 shares of the fast-food giant’s stock after acquiring an additional 1,236 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in McDonald’s were worth $587,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Interchange Capital Partners LLC raised its position in McDonald’s by 4.2% in the second quarter. Interchange Capital Partners LLC now owns 1,183 shares of the fast-food giant’s stock worth $346,000 after acquiring an additional 48 shares in the last quarter. Cabot Wealth Management Inc. grew its holdings in McDonald’s by 7.7% in the second quarter. Cabot Wealth Management Inc. now owns 1,050 shares of the fast-food giant’s stock valued at $307,000 after purchasing an additional 75 shares during the last quarter. Brighton Jones LLC grew its holdings in McDonald’s by 3.2% in the second quarter. Brighton Jones LLC now owns 11,128 shares of the fast-food giant’s stock valued at $3,251,000 after purchasing an additional 350 shares during the last quarter. MQS Management LLC acquired a new stake in McDonald’s in the second quarter valued at $734,000. Finally, Leavell Investment Management Inc. grew its holdings in McDonald’s by 2.0% in the second quarter. Leavell Investment Management Inc. now owns 40,124 shares of the fast-food giant’s stock valued at $11,723,000 after purchasing an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MCD shares. Wells Fargo & Company lowered their target price on McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. KeyCorp reissued an “overweight” rating and issued a $335.00 target price on shares of McDonald’s in a report on Monday, October 20th. Morgan Stanley set a $335.00 target price on McDonald’s in a report on Friday, October 17th. Barclays upped their target price on McDonald’s from $360.00 to $362.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Guggenheim lowered their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $324.50.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,463 shares of company stock valued at $1,692,186 in the last three months. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 0.3%

MCD opened at $306.05 on Friday. The firm has a market cap of $218.39 billion, a P/E ratio of 26.23, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The business’s fifty day simple moving average is $306.49 and its 200 day simple moving average is $305.65.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company earned $2.97 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is 60.67%.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.