Shares of McDonald’s Co. (NYSE:MCD – Get Free Report) traded down 1.2% during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $320.00 to $300.00. Truist Financial currently has a buy rating on the stock. McDonald’s traded as low as $244.20 and last traded at $244.84. 1,198,293 shares traded hands during trading, a decline of 65% from the average session volume of 3,401,777 shares. The stock had previously closed at $247.85.
Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Argus reissued a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. KeyCorp decreased their target price on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley decreased their target price on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $313.18.
Insider Activity
In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,593 shares of company stock worth $1,472,518. 0.23% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On McDonald’s
Several hedge funds and other institutional investors have recently made changes to their positions in MCD. Fulton Bank N.A. grew its holdings in McDonald’s by 13.8% during the 2nd quarter. Fulton Bank N.A. now owns 10,081 shares of the fast-food giant’s stock worth $2,569,000 after acquiring an additional 1,220 shares during the last quarter. Lynx Investment Advisory bought a new stake in McDonald’s during the 2nd quarter worth approximately $75,000. Fragasso Financial Advisors Inc grew its holdings in McDonald’s by 2.5% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 3,765 shares of the fast-food giant’s stock worth $959,000 after acquiring an additional 93 shares during the last quarter. Monterey Private Wealth Inc. grew its holdings in McDonald’s by 10.8% during the 2nd quarter. Monterey Private Wealth Inc. now owns 1,367 shares of the fast-food giant’s stock worth $348,000 after acquiring an additional 133 shares during the last quarter. Finally, Investment Partners Asset Management Inc. lifted its position in shares of McDonald’s by 21.1% in the 2nd quarter. Investment Partners Asset Management Inc. now owns 1,456 shares of the fast-food giant’s stock worth $371,000 after purchasing an additional 254 shares during the period. 70.29% of the stock is owned by institutional investors.
McDonald’s Trading Down 0.8 %
The stock has a market cap of $177.16 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.83 and a beta of 0.71. The stock’s 50-day moving average price is $260.22 and its 200-day moving average price is $277.37.
McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter last year, the firm posted $2.63 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts predict that McDonald’s Co. will post 12.19 earnings per share for the current year.
McDonald’s Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.72%. McDonald’s’s payout ratio is presently 56.71%.
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.