Truist Financial Corp Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Truist Financial Corp trimmed its position in McDonald’s Co. (NYSE:MCD) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 438,775 shares of the fast-food giant’s stock after selling 12,268 shares during the period. Truist Financial Corp’s holdings in McDonald’s were worth $127,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Clear Creek Financial Management LLC grew its stake in McDonald’s by 2.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after buying an additional 35 shares during the last quarter. GDS Wealth Management grew its stake in McDonald’s by 1.4% during the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the last quarter. Boltwood Capital Management grew its stake in McDonald’s by 1.9% during the 4th quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock valued at $546,000 after purchasing an additional 35 shares during the last quarter. McAdam LLC grew its stake in McDonald’s by 1.7% during the 3rd quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock valued at $663,000 after purchasing an additional 36 shares during the last quarter. Finally, LCM Capital Management Inc grew its stake in McDonald’s by 1.3% during the 3rd quarter. LCM Capital Management Inc now owns 2,887 shares of the fast-food giant’s stock valued at $879,000 after purchasing an additional 36 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCD. Loop Capital reiterated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. KeyCorp boosted their price target on McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their price target on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Wedbush boosted their price objective on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target of $323.61.

Insider Activity

In other news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. This represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the sale, the insider now owns 8,187 shares of the company’s stock, valued at $2,383,235.70. This trade represents a 11.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,906 shares of company stock worth $5,406,382 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $308.59 on Monday. The business has a 50 day simple moving average of $291.98 and a two-hundred day simple moving average of $292.90. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The stock has a market capitalization of $221.14 billion, a P/E ratio of 27.09, a PEG ratio of 4.08 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting 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, research analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Dividend Announcement

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

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.