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

Truist Financial Corp boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 2.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 425,185 shares of the fast-food giant’s stock after acquiring an additional 10,384 shares during the quarter. Truist Financial Corp’s holdings in McDonald’s were worth $129,209,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Rainey & Randall Wealth Advisors Inc. lifted its stake in shares of McDonald’s by 57.8% in the 3rd quarter. Rainey & Randall Wealth Advisors Inc. now owns 18,661 shares of the fast-food giant’s stock valued at $5,671,000 after purchasing an additional 6,833 shares during the period. EPG Wealth Management LLC increased its holdings in McDonald’s by 4.9% in the third quarter. EPG Wealth Management LLC now owns 7,117 shares of the fast-food giant’s stock valued at $2,163,000 after purchasing an additional 335 shares during the last quarter. Braun Bostich & Associates Inc. lifted its stake in McDonald’s by 9.4% in the third quarter. Braun Bostich & Associates Inc. now owns 1,607 shares of the fast-food giant’s stock valued at $488,000 after buying an additional 138 shares during the period. Little House Capital LLC lifted its stake in McDonald’s by 1.2% in the third quarter. Little House Capital LLC now owns 5,923 shares of the fast-food giant’s stock valued at $1,800,000 after buying an additional 70 shares during the period. Finally, Pines Wealth Management LLC boosted its holdings in McDonald’s by 2.6% during the third quarter. Pines Wealth Management LLC now owns 4,106 shares of the fast-food giant’s stock worth $1,248,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $313.91 on Wednesday. The firm has a market cap of $223.55 billion, a P/E ratio of 26.78, a PEG ratio of 3.11 and a beta of 0.53. McDonald’s Corporation has a twelve month low of $283.47 and a twelve month high of $326.32. The firm’s 50 day moving average price is $309.21 and its two-hundred day moving average price is $306.22.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 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%.The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.23 earnings per share. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 2,626 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $306.58, for a total transaction of $805,079.08. Following the completion of the transaction, the insider directly owned 5,398 shares in the company, valued at approximately $1,654,918.84. This trade represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $305.50, for a total value of $2,006,218.50. Following the completion of the sale, the executive vice president owned 4,606 shares in the company, valued at $1,407,133. The trade was a 58.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 45,142 shares of company stock worth $13,841,169. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCD. Robert W. Baird upped their price target on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Piper Sandler restated a “neutral” rating and set a $325.00 price objective on shares of McDonald’s in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a report on Friday, October 31st. Truist Financial lifted their price target on shares of McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Barclays boosted their price target on shares of McDonald’s from $358.00 to $372.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Thirteen investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $328.88.

About McDonald’s

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.