Federated Hermes Inc. Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Federated Hermes Inc. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 55.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,928 shares of the fast-food giant’s stock after selling 69,419 shares during the period. Federated Hermes Inc.’s holdings in McDonald’s were worth $13,998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in McDonald’s by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after acquiring an additional 599,745 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares during the period. Gallagher Fiduciary Advisors LLC boosted its stake in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares in the last quarter. Capital Research Global Investors increased its position in shares of McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares during the period. Finally, Capital World Investors raised its stake in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.0 %

Shares of MCD opened at $296.66 on Tuesday. The firm has a market cap of $213.80 billion, a PE ratio of 25.18, a P/E/G ratio of 3.88 and a beta of 0.72. The firm has a fifty day simple moving average of $273.87 and a two-hundred day simple moving average of $270.50. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.17 earnings per share. As a group, research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.25%. McDonald’s’s dividend payout ratio is presently 56.71%.

Analyst Ratings Changes

Several analysts have weighed in on MCD shares. Deutsche Bank Aktiengesellschaft cut their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Jefferies Financial Group lifted their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research report on Tuesday, September 10th. Guggenheim lifted their price objective on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and cut their price objective for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $306.11.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,291 shares of company stock worth $1,689,073. Insiders own 0.23% of the company’s stock.

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.