Sompo Asset Management Co. Ltd. Reduces Holdings in McDonald’s Co. (NYSE:MCD)

Sompo Asset Management Co. Ltd. lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 6.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,890 shares of the fast-food giant’s stock after selling 130 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in McDonald’s were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. TPG Advisors LLC purchased a new stake in shares of McDonald’s during the second quarter valued at approximately $313,000. Capstone Triton Financial Group LLC raised its stake in shares of McDonald’s by 2.2% during the second quarter. Capstone Triton Financial Group LLC now owns 4,370 shares of the fast-food giant’s stock valued at $1,114,000 after purchasing an additional 96 shares during the period. Kiely Wealth Advisory Group Inc. increased its stake in shares of McDonald’s by 24.7% in the second quarter. Kiely Wealth Advisory Group Inc. now owns 308 shares of the fast-food giant’s stock worth $84,000 after buying an additional 61 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of McDonald’s by 10.1% in the second quarter. Thrivent Financial for Lutherans now owns 195,638 shares of the fast-food giant’s stock worth $49,856,000 after buying an additional 17,995 shares during the last quarter. Finally, Boston Research & Management Inc. increased its stake in shares of McDonald’s by 2.4% in the second quarter. Boston Research & Management Inc. now owns 24,939 shares of the fast-food giant’s stock worth $6,355,000 after buying an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.0 %

MCD stock opened at $296.83 on Friday. The company has a market capitalization of $213.92 billion, a P/E ratio of 25.20, a PEG ratio of 3.88 and a beta of 0.72. The company has a 50-day simple moving average of $277.30 and a 200 day simple moving average of $270.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.17 EPS. Equities analysts anticipate that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MCD. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research note on Tuesday, September 10th. KeyCorp dropped their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Truist Financial decreased their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, TD Cowen downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.11.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,193 shares of company stock worth $1,403,593. 0.23% of the stock is owned by corporate insiders.

About McDonald’s

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.