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

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

Several other hedge funds have also recently added to or reduced their stakes in MCD. Evergreen Private Wealth LLC raised its stake in shares of McDonald’s by 162.5% during the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after acquiring an additional 52 shares in the last quarter. Decker Retirement Planning Inc. grew its holdings in shares of McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the 2nd quarter worth $25,000. GFG Capital LLC bought a new stake in McDonald’s in the second quarter worth $29,000. Finally, Financial Gravity Companies Inc. bought a new stake in McDonald’s in the second quarter worth $29,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $315.17 on Friday. McDonald’s Corporation has a fifty-two week low of $283.47 and a fifty-two week high of $326.32. The firm has a market cap of $224.44 billion, a P/E ratio of 26.89, a P/E/G ratio of 3.16 and a beta of 0.53. The business’s 50 day moving average price is $309.64 and its 200-day moving average price is $306.32.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MCD shares. Mizuho raised McDonald’s to a “hold” rating in a research note on Tuesday, October 28th. KeyCorp increased their target price on McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Royal Bank Of Canada assumed coverage on McDonald’s in a research report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price target on the stock. Guggenheim boosted their price objective on McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Finally, Truist Financial lifted their target price on shares of McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Thirteen investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $328.88.

Insider Activity at McDonald’s

In other news, EVP Manuel Jm Steijaert sold 6,567 shares of McDonald’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $305.50, for a total transaction of $2,006,218.50. Following the sale, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. The trade was a 58.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. The trade was a 39.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 45,142 shares of company stock valued at $13,841,169. 0.25% of the stock is currently owned by company insiders.

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.