Principal Financial Group Inc. Sells 20,845 Shares of McDonald’s Co. (NYSE:MCD)

Principal Financial Group Inc. decreased its holdings in McDonald’s Co. (NYSE:MCD) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 886,664 shares of the fast-food giant’s stock after selling 20,845 shares during the period. Principal Financial Group Inc. owned 0.12% of McDonald’s worth $225,957,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MCD. Norges Bank purchased a new stake in McDonald’s during the 4th quarter valued at approximately $2,684,899,000. Gallagher Fiduciary Advisors LLC grew its stake in McDonald’s by 141,160.9% during the fourth 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 acquiring an additional 5,609,736 shares in the last quarter. Capital Research Global Investors increased its holdings in McDonald’s by 66.9% in the 1st 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 acquiring an additional 2,193,769 shares during the last quarter. Swedbank AB bought a new position in shares of McDonald’s during the 1st quarter valued at about $348,206,000. Finally, Capital World Investors grew its position in shares of McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.2 %

MCD stock traded up $0.69 during trading on Friday, hitting $288.55. 2,528,115 shares of the company’s stock traded hands, compared to its average volume of 3,519,216. The business has a fifty day simple moving average of $265.04 and a two-hundred day simple moving average of $271.00. The firm has a market capitalization of $207.95 billion, a P/E ratio of 24.49, a PEG ratio of 3.58 and a beta of 0.71. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the firm posted $3.17 earnings per share. The company’s revenue was down .1% on a year-over-year basis. On average, equities research analysts predict that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price 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. TD Cowen cut 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. Morgan Stanley cut their target price on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. decreased their price target on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group dropped their price objective on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $303.71.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,793 shares of company stock valued at $1,260,106 in the last 90 days. Insiders own 0.23% of the company’s stock.

McDonald’s Profile

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.