McDonald’s Co. (NYSE:MCD) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in shares of McDonald’s Co. (NYSE:MCD) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 488,909 shares of the fast-food giant’s stock after selling 57,356 shares during the period. Truist Financial Corp’s holdings in McDonald’s were worth $144,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Blue Bell Private Wealth Management LLC grew its stake in shares of McDonald’s by 51.9% in the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after buying an additional 42 shares in the last quarter. Spartan Planning & Wealth Management acquired a new stake in shares of McDonald’s in the third quarter valued at about $33,000. Keener Financial Planning LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $39,000. Bear Mountain Capital Inc. acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $43,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $50,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Down 0.9 %

MCD traded down $2.51 during trading hours on Friday, hitting $273.09. The company’s stock had a trading volume of 3,636,458 shares, compared to its average volume of 3,338,426. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The firm 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 company has a 50-day simple moving average of $281.68 and a 200 day simple moving average of $281.53.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, beating the consensus estimate of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The firm had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the firm earned $2.59 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Research 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. Stockholders 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 dividend payout ratio (DPR) is presently 57.74%.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent research reports. Stifel Nicolaus lowered their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Evercore ISI reissued an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a report on Wednesday, March 27th. Wedbush reduced their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday. TD Cowen reissued a “buy” rating and issued a $325.00 price target on shares of McDonald’s in a report on Wednesday, April 10th. Finally, Truist Financial reduced their price target on McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Nine 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 has a consensus rating of “Moderate Buy” and an average price target of $318.41.

Insider Activity

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

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.