Sound Income Strategies LLC Sells 286 Shares of McDonald’s Corporation $MCD

Sound Income Strategies LLC decreased its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,285 shares of the fast-food giant’s stock after selling 286 shares during the period. Sound Income Strategies LLC’s holdings in McDonald’s were worth $1,544,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Nova Wealth Management Inc. bought a new position in McDonald’s in the 1st quarter valued at about $26,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s in the first quarter valued at approximately $26,000. Abound Financial LLC bought a new position in shares of McDonald’s in the first quarter valued at approximately $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of McDonald’s during the first quarter valued at approximately $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in McDonald’s during the first quarter worth $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

MCD stock opened at $302.56 on Tuesday. The firm has a market cap of $215.91 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.11 and a beta of 0.49. The firm’s fifty day moving average is $306.62 and its 200 day moving average is $306.27. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

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

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s payout ratio is presently 60.67%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup lifted their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Evercore ISI raised their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. BMO Capital Markets boosted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Barclays upped their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, KeyCorp reissued an “overweight” rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Hold” and a consensus price target of $325.86.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,402 shares of company stock worth $2,273,407. Company insiders own 0.25% of the company’s stock.

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.