Freestone Capital Holdings LLC Decreases Stock Holdings in McDonald’s Corporation $MCD

Freestone Capital Holdings LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,562 shares of the fast-food giant’s stock after selling 1,011 shares during the period. Freestone Capital Holdings LLC’s holdings in McDonald’s were worth $6,008,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HFM Investment Advisors LLC acquired a new stake in McDonald’s during the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. acquired a new stake in McDonald’s during the 1st quarter worth approximately $26,000. GFG Capital LLC acquired a new stake in McDonald’s during the 2nd quarter worth approximately $29,000. Abound Financial LLC acquired a new stake in McDonald’s during the 1st quarter worth approximately $30,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in McDonald’s during the 1st quarter worth approximately $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on MCD shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research report on Friday. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research report on Thursday, July 10th. Morgan Stanley set a $335.00 price target on shares of McDonald’s in a research report on Friday, October 17th. Evercore ISI raised their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, McDonald’s currently has an average rating of “Hold” and a consensus target price of $323.43.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 4,487 shares of company stock worth $1,395,970. Company insiders own 0.25% of the company’s stock.

McDonald’s Trading Down 1.3%

Shares of McDonald’s stock opened at $298.44 on Monday. The company’s 50-day moving average price is $305.70 and its two-hundred day moving average price is $305.44. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The stock has a market cap of $212.97 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.97 earnings per share. On average, equities analysts predict 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. Shareholders of record on Monday, December 1st will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, December 1st. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is presently 63.75%.

About McDonald’s

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.