Federated Hermes Inc. Sells 24,416 Shares of McDonald’s Corporation $MCD

Federated Hermes Inc. lowered its stake in shares of McDonald’s Corporation (NYSE:MCD) by 17.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,359 shares of the fast-food giant’s stock after selling 24,416 shares during the period. Federated Hermes Inc.’s holdings in McDonald’s were worth $35,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. grew its position in McDonald’s by 236.7% during the third quarter. Global X Japan Co. Ltd. now owns 6,502 shares of the fast-food giant’s stock valued at $1,976,000 after buying an additional 4,571 shares during the period. Welch Group LLC grew its position in shares of McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after acquiring an additional 2,180 shares during the period. D.A. Davidson & CO. increased its stake in shares of McDonald’s by 2.7% during the 3rd quarter. D.A. Davidson & CO. now owns 143,492 shares of the fast-food giant’s stock worth $43,606,000 after purchasing an additional 3,774 shares during the last quarter. Choreo LLC raised its holdings in shares of McDonald’s by 1.7% in the 2nd quarter. Choreo LLC now owns 58,515 shares of the fast-food giant’s stock worth $17,096,000 after purchasing an additional 954 shares during the period. Finally, Regent Peak Wealth Advisors LLC purchased a new position in McDonald’s in the third quarter valued at approximately $1,120,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Up 0.8%

MCD stock opened at $315.17 on Friday. The firm has a 50 day moving average of $309.64 and a 200-day moving average of $306.32. McDonald’s Corporation has a 12 month low of $283.47 and a 12 month high of $326.32. The firm has a market capitalization of $224.44 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the company posted $3.23 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,486 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the sale, the executive vice president owned 6,268 shares of the company’s stock, valued at $2,005,760. This trade represents a 28.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ian Frederick Borden sold 17,134 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at $8,169,430. The trade was a 39.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 45,142 shares of company stock worth $13,841,169. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Oppenheimer upgraded McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 price objective on the stock in a research note on Tuesday, January 6th. Citigroup dropped their price objective on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Royal Bank Of Canada assumed coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price for the company. Finally, KeyCorp upped their price target on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Thirteen equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Hold” and a consensus target price of $328.88.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.