Truist Financial Corp Sells 57,356 Shares of McDonald’s Co. (NYSE:MCD)

Truist Financial Corp lowered its stake in McDonald’s Co. (NYSE:MCD) by 10.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 488,909 shares of the fast-food giant’s stock after selling 57,356 shares during the period. Truist Financial Corp owned approximately 0.07% of McDonald’s worth $144,966,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MCD. Vanguard Group Inc. increased its position in shares of McDonald’s by 0.4% during the third quarter. Vanguard Group Inc. now owns 68,449,565 shares of the fast-food giant’s stock worth $18,032,353,000 after buying an additional 262,147 shares during the period. Northern Trust Corp raised its position in McDonald’s by 1.7% in the third quarter. Northern Trust Corp now owns 9,200,473 shares of the fast-food giant’s stock worth $2,423,773,000 after acquiring an additional 151,161 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of McDonald’s by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,390,035 shares of the fast-food giant’s stock worth $1,401,570,000 after purchasing an additional 237,532 shares in the last quarter. Ameriprise Financial Inc. grew its stake in McDonald’s by 4.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,593,760 shares of the fast-food giant’s stock worth $1,209,171,000 after buying an additional 199,657 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in McDonald’s by 0.7% in the 4th quarter. California Public Employees Retirement System now owns 3,911,764 shares of the fast-food giant’s stock worth $1,159,877,000 after buying an additional 26,147 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now owns 18,075 shares in the company, valued at approximately $5,140,168.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of a number of recent analyst reports. StockNews.com lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Bank of America increased their price objective on shares of McDonald’s from $291.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Citigroup lowered their target price on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Argus restated a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. Finally, Barclays lowered their target price on shares of McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.41.

McDonald’s Stock Performance

MCD stock traded down $2.51 during mid-day trading on Friday, reaching $273.09. 3,636,458 shares of the stock traded hands, compared to its average volume of 3,338,426. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39. The stock has a market capitalization of $196.90 billion, a PE ratio of 23.61, a PEG ratio of 3.01 and a beta of 0.71. The business has a 50-day moving average price of $281.68 and a two-hundred day moving average price of $281.53.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.12. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.45 billion. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 earnings per share. On average, equities analysts expect that McDonald’s Co. will post 12.34 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Thursday, February 29th. McDonald’s’s payout ratio is 57.74%.

McDonald’s Company 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.