McDonald’s Corporation $MCD Shares Bought by True Freedom Investing LLC

True Freedom Investing LLC lifted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 26.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,539 shares of the fast-food giant’s stock after acquiring an additional 4,544 shares during the quarter. True Freedom Investing LLC’s holdings in McDonald’s were worth $4,974,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in McDonald’s by 141.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 524,341 shares of the fast-food giant’s stock worth $121,392,000 after acquiring an additional 307,192 shares during the period. Pinkerton Wealth LLC grew its stake in McDonald’s by 24.5% in the 3rd quarter. Pinkerton Wealth LLC now owns 22,009 shares of the fast-food giant’s stock valued at $5,083,000 after purchasing an additional 4,336 shares during the period. Heritage Investors Management Corp grew its stake in McDonald’s by 1.9% in the 3rd quarter. Heritage Investors Management Corp now owns 108,889 shares of the fast-food giant’s stock valued at $25,147,000 after purchasing an additional 1,992 shares during the period. Hennessy Advisors Inc. grew its stake in McDonald’s by 22.6% in the 3rd quarter. Hennessy Advisors Inc. now owns 7,050 shares of the fast-food giant’s stock valued at $1,628,000 after purchasing an additional 1,300 shares during the period. Finally, Columbia Bank increased its position in shares of McDonald’s by 7.8% during the 3rd quarter. Columbia Bank now owns 10,917 shares of the fast-food giant’s stock valued at $2,521,000 after purchasing an additional 789 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of recent analyst reports. Gordon Haskett lowered their target price on McDonald’s from $315.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Robert W. Baird reduced their price target on shares of McDonald’s from $285.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, September 24th. Piper Sandler set a $286.00 price objective on shares of McDonald’s in a report on Tuesday, August 4th. Guggenheim decreased their price objective on shares of McDonald’s from $290.00 to $250.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Finally, Bank of America lifted their price objective on shares of McDonald’s from $339.00 to $343.00 in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $294.73.

McDonald’s Trading Up 0.0%

Shares of NYSE MCD opened at $258.15 on Monday. The stock has a fifty day simple moving average of $248.26 and a two-hundred day simple moving average of $283.44. McDonald’s Corporation has a 1-year low of $229.20 and a 1-year high of $341.75. The firm has a market cap of $182.68 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 2.95 and a beta of 0.42.

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

McDonald’s Increases Dividend

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

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.