Truist Financial Corp Decreases Stock Holdings in McDonald's Corporation (NYSE:MCD)

Truist Financial Corp lowered its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 424,463 shares of the fast-food giant's stock after selling 14,312 shares during the quarter. Truist Financial Corp owned 0.06% of McDonald's worth $132,589,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in McDonald's by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock worth $20,341,391,000 after purchasing an additional 526,466 shares during the period. Geode Capital Management LLC raised its position in McDonald's by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant's stock worth $4,652,768,000 after purchasing an additional 157,458 shares during the period. Capital Research Global Investors raised its position in McDonald's by 5.2% in the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock worth $3,088,037,000 after purchasing an additional 531,070 shares during the period. Norges Bank purchased a new position in McDonald's in the 4th quarter worth $2,725,190,000. Finally, Northern Trust Corp raised its position in McDonald's by 11.2% in the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock worth $2,570,511,000 after purchasing an additional 895,896 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

NYSE:MCD traded down $0.83 during mid-day trading on Friday, hitting $293.80. 1,678,645 shares of the company's stock were exchanged, compared to its average volume of 3,538,951. McDonald's Corporation has a one year low of $243.53 and a one year high of $326.32. The business has a fifty day moving average price of $306.11 and a 200 day moving average price of $302.36. The company has a market cap of $210.08 billion, a PE ratio of 25.93, a P/E/G ratio of 3.07 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. McDonald's's quarterly revenue was down 3.5% on a year-over-year basis. On average, equities analysts forecast that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.41%. The ex-dividend date was Monday, June 2nd. McDonald's's payout ratio is currently 62.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MCD shares. Truist Financial set a $350.00 target price on shares of McDonald's in a research report on Friday, May 2nd. KeyCorp decreased their target price on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Redburn Atlantic restated a "sell" rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Barclays increased their target price on shares of McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Piper Sandler raised their target price on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $321.17.

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider directly owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,817 shares of company stock valued at $865,843 over the last three months. 0.25% of the stock is currently owned by insiders.

About McDonald's

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.