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

Truist Financial Corp reduced its holdings in McDonald’s Co. (NYSE:MCD) by 4.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 454,835 shares of the fast-food giant’s stock after selling 21,430 shares during the quarter. Truist Financial Corp owned approximately 0.06% of McDonald’s worth $115,910,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the first quarter valued at about $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth about $38,000. Accent Capital Management LLC acquired a new stake in shares of McDonald’s in the 4th quarter worth approximately $44,000. Transcendent Capital Group LLC acquired a new position in shares of McDonald’s during the fourth quarter valued at approximately $45,000. Finally, Keener Financial Planning LLC raised its holdings in McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.5 %

MCD opened at $302.98 on Wednesday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96. The stock has a fifty day moving average price of $283.58 and a 200 day moving average price of $271.26. The stock has a market cap of $218.35 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.99 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.17 earnings per share. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the sale, the chief executive officer now directly owns 43,256 shares in the company, valued at $13,193,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,751 shares of company stock valued at $9,493,973. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MCD. Loop Capital reiterated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research report on Tuesday, September 10th. Guggenheim lifted their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Citigroup upped their price target on shares of McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Morgan Stanley lowered their price objective on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, KeyCorp cut their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $308.22.

McDonald’s Company Profile

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.