McDonald's Corporation (NYSE:MCD) Holdings Decreased by Truist Financial Corp

Truist Financial Corp decreased its stake in 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 Securities and Exchange Commission. The fund owned 424,463 shares of the fast-food giant's stock after selling 14,312 shares during the period. Truist Financial Corp owned 0.06% of McDonald's worth $132,589,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 last quarter. Capital Research Global Investors lifted its holdings in shares of 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 last quarter. Norges Bank bought a new stake in shares of McDonald's in the 4th quarter worth approximately $2,725,190,000. Finally, Northern Trust Corp lifted its holdings in shares of 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 last quarter. Institutional investors own 70.29% of the company's stock.

McDonald's Trading Down 0.2%

Shares of NYSE MCD traded down $0.59 during mid-day trading on Monday, reaching $293.49. The company had a trading volume of 3,402,996 shares, compared to its average volume of 3,538,413. The stock has a market cap of $209.85 billion, a PE ratio of 25.90, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a 50-day moving average price of $305.64 and a two-hundred day moving average price of $302.53. McDonald's Corporation has a 1-year low of $243.53 and a 1-year high of $326.32.

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

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MCD. Northcoast Research downgraded McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. KeyCorp cut their target price on McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Truist Financial set a $350.00 target price on McDonald's in a research note on Friday, May 2nd. BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Finally, TD Securities reaffirmed a "hold" rating and set a $305.00 target price on shares of McDonald's in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $321.17.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the transaction, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. The trade was a 8.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 2,817 shares of company stock valued at $865,843. Insiders own 0.25% of the company's stock.

McDonald's Company Profile

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.