Truist Financial Corp Acquires 10,384 Shares of McDonald’s Corporation $MCD

Truist Financial Corp increased its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 425,185 shares of the fast-food giant’s stock after acquiring an additional 10,384 shares during the period. Truist Financial Corp owned about 0.06% of McDonald’s worth $129,209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of McDonald’s by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock valued at $20,840,787,000 after purchasing an additional 921,936 shares during the period. State Street Corp lifted its position in shares of McDonald’s by 0.8% during the 2nd quarter. State Street Corp now owns 34,828,352 shares of the fast-food giant’s stock worth $10,175,800,000 after buying an additional 272,139 shares during the period. Geode Capital Management LLC boosted its stake in McDonald’s by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock valued at $4,901,595,000 after buying an additional 276,065 shares in the last quarter. Norges Bank bought a new stake in McDonald’s in the second quarter valued at $2,780,712,000. Finally, Laurel Wealth Advisors LLC grew its position in McDonald’s by 29,382.3% in the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after acquiring an additional 5,718,087 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on MCD shares. Robert W. Baird lifted their price objective on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Piper Sandler restated a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research report on Wednesday, October 22nd. Barclays upped their price objective on shares of McDonald’s from $358.00 to $372.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Finally, Sanford C. Bernstein reiterated an “overweight” rating and issued a $372.00 target price on shares of McDonald’s in a research note on Wednesday, January 7th. Thirteen analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $328.88.

McDonald’s Trading Up 0.3%

MCD opened at $313.91 on Wednesday. McDonald’s Corporation has a 1-year low of $283.47 and a 1-year high of $326.32. The stock has a market capitalization of $223.55 billion, a PE ratio of 26.78, a PEG ratio of 3.11 and a beta of 0.53. The firm has a 50-day moving average price of $309.21 and a two-hundred day moving average price of $306.22.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.McDonald’s’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.23 earnings per share. On average, research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,486 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total transaction of $795,520.00. Following the transaction, the executive vice president owned 6,268 shares of the company’s stock, valued at $2,005,760. This represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 3,195 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the transaction, the insider owned 6,088 shares in the company, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,142 shares of company stock worth $13,841,169 in the last quarter. 0.25% of the stock is owned by corporate insiders.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.