Tyche Wealth Partners LLC Grows Holdings in McDonald’s Co. (NYSE:MCD)

Tyche Wealth Partners LLC increased its position in shares of McDonald’s Co. (NYSE:MCD) by 36.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,431 shares of the fast-food giant’s stock after purchasing an additional 3,334 shares during the quarter. McDonald’s makes up about 0.8% of Tyche Wealth Partners LLC’s holdings, making the stock its 29th biggest position. Tyche Wealth Partners LLC’s holdings in McDonald’s were worth $3,604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position 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 worth $4,833,510,000 after acquiring an additional 220,365 shares during the period. Wellington Management Group LLP raised its position in shares of McDonald’s by 0.9% in the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after purchasing an additional 128,800 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of McDonald’s by 0.9% in the third 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 purchasing an additional 49,106 shares during the period. Janus Henderson Group PLC raised its position in shares of McDonald’s by 0.7% in the third quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock valued at $841,966,000 after purchasing an additional 19,867 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the completion of the transaction, the insider now directly owns 8,187 shares of the company’s stock, valued at approximately $2,383,235.70. This trade represents a 11.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,406 shares of company stock valued at $2,150,857. 0.23% of the stock is owned by insiders.

McDonald’s Trading Down 0.4 %

MCD opened at $288.49 on Thursday. The company has a market cap of $206.74 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 3.83 and a beta of 0.74. The company’s 50 day moving average is $290.88 and its 200 day moving average is $290.38. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCD. BMO Capital Markets boosted their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler cut their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Bank of America upped their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.57.

McDonald’s Company Profile

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.