Truist Financial Corp Sells 12,268 Shares of McDonald’s Co. (NYSE:MCD)

Truist Financial Corp reduced its position in McDonald’s Co. (NYSE:MCD) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 438,775 shares of the fast-food giant’s stock after selling 12,268 shares during the period. Truist Financial Corp owned 0.06% of McDonald’s worth $127,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in McDonald’s in the 3rd quarter valued at about $25,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s in the 4th quarter valued at about $27,000. Collier Financial bought a new stake in McDonald’s in the 4th quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in McDonald’s in the 3rd quarter valued at about $31,000. Finally, Hara Capital LLC bought a new stake in McDonald’s in the 3rd quarter valued at about $44,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

NYSE:MCD opened at $308.59 on Monday. The business has a 50 day moving average of $291.98 and a 200 day moving average of $292.90. The company has a market capitalization of $221.14 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 4.08 and a beta of 0.74. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. As a group, sell-side analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.29%. McDonald’s’s payout ratio is 62.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Bank of America lifted their target price on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Truist Financial reduced their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Barclays lifted their target price on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $323.61.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares in the company, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,906 shares of company stock worth $5,406,382. 0.23% of the stock is currently owned by insiders.

McDonald’s 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.