McDonald’s Corporation $MCD Stock Position Increased by True Freedom Investing LLC

True Freedom Investing LLC increased its holdings in McDonald’s Corporation (NYSE:MCD) by 26.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,539 shares of the fast-food giant’s stock after purchasing an additional 4,544 shares during the period. True Freedom Investing LLC’s holdings in McDonald’s were worth $4,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MCD. State Street Corp raised its holdings in McDonald’s by 1.8% during the 2nd quarter. State Street Corp now owns 36,080,505 shares of the fast-food giant’s stock valued at $9,752,921,000 after acquiring an additional 646,675 shares during the period. Bank of New York Mellon Corp bought a new position in shares of McDonald’s in the second quarter worth $1,359,276,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of McDonald’s by 17.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,637,785 shares of the fast-food giant’s stock worth $1,130,587,000 after acquiring an additional 533,448 shares during the period. Swiss National Bank boosted its holdings in shares of McDonald’s by 6.9% in the first quarter. Swiss National Bank now owns 2,089,980 shares of the fast-food giant’s stock worth $649,545,000 after acquiring an additional 134,480 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of McDonald’s by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,909,321 shares of the fast-food giant’s stock valued at $593,366,000 after purchasing an additional 62,562 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of NYSE MCD opened at $258.15 on Monday. McDonald’s Corporation has a one year low of $229.20 and a one year high of $341.75. The firm’s 50 day simple moving average is $248.26 and its two-hundred day simple moving average is $283.44. The stock has a market capitalization of $182.68 billion, a P/E ratio of 20.97, a PEG ratio of 2.95 and a beta of 0.42.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.06. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.13 billion. McDonald’s had a net margin of 31.72% and a negative return on equity of 572.06%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.19 EPS. As a group, equities analysts expect that McDonald’s Corporation will post 12.83 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $1.93 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $7.72 annualized dividend and a dividend yield of 3.0%. This is an increase from McDonald’s’s previous quarterly dividend of $1.86. McDonald’s’s payout ratio is 60.44%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCD. Gordon Haskett decreased their price target on shares of McDonald’s from $315.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Sanford C. Bernstein lowered their target price on shares of McDonald’s from $295.00 to $250.00 and set a “market perform” rating on the stock in a research note on Thursday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of McDonald’s from $280.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday, September 24th. TD Cowen cut their price target on shares of McDonald’s from $282.00 to $270.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. Finally, Freedom Capital upgraded shares of McDonald’s from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $294.73.

McDonald’s Company Profile

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app.

The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.