Strait & Sound Wealth Management LLC Increases Stock Holdings in McDonald’s Corporation $MCD

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

Several other hedge funds have also modified their holdings of the stock. First American Trust FSB increased its holdings in McDonald’s by 55.9% during the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Banque Transatlantique SA increased its holdings in McDonald’s by 58.0% during the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after purchasing an additional 91,313 shares during the last quarter. Hamilton Capital LLC increased its holdings in McDonald’s by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after purchasing an additional 819 shares during the last quarter. Welch Group LLC increased its holdings in McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after purchasing an additional 2,180 shares during the last quarter. Finally, Red Door Wealth Management LLC increased its holdings in McDonald’s by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after purchasing an additional 109 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Price Performance

NYSE:MCD opened at $306.05 on Friday. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The firm has a market capitalization of $218.39 billion, a P/E ratio of 26.23, a P/E/G ratio of 3.23 and a beta of 0.50. The business has a 50 day simple moving average of $306.49 and a 200 day simple moving average of $305.65.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the firm posted $2.97 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s payout ratio is presently 60.67%.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction on 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 owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,463 shares of company stock worth $1,692,186. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup dropped their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. KeyCorp restated an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a report on Monday, October 20th. Bank of America decreased their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Truist Financial decreased their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, TD Cowen lifted their target price on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $324.50.

McDonald’s Company Profile

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.