McDonald’s Co. (NYSE:MCD – Get Free Report) shares fell 0.4% during mid-day trading on Tuesday after Guggenheim lowered their price target on the stock from $315.00 to $280.00. Guggenheim currently has a buy rating on the stock. McDonald’s traded as low as $248.62 and last traded at $249.11. Approximately 707,687 shares changed hands during trading, a decline of 79% from the average daily volume of 3,412,052 shares. The stock had previously closed at $249.99.
MCD has been the subject of several other research reports. Wedbush lowered their price objective on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Stifel Nicolaus lowered their price objective on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. KeyCorp lowered their price objective 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. Citigroup lowered their price objective on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $313.89.
Insider Buying and Selling at McDonald’s
In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the transaction, the insider now directly owns 15,878 shares in the company, valued at $4,209,734.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,095 shares of company stock worth $1,100,625. 0.23% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s during the first quarter worth about $28,000. Signature Resources Capital Management LLC acquired a new position in McDonald’s during the fourth quarter worth about $31,000. Spartan Planning & Wealth Management acquired a new position in McDonald’s during the third quarter worth about $33,000. Clear Investment Research LLC purchased a new position in McDonald’s in the 4th quarter worth about $38,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in McDonald’s in the 4th quarter worth about $39,000. 70.29% of the stock is owned by institutional investors and hedge funds.
McDonald’s Stock Performance
The stock has a 50 day moving average of $262.80 and a two-hundred day moving average of $278.79. The stock has a market cap of $178.58 billion, a PE ratio of 21.04, a PEG ratio of 2.87 and a beta of 0.71.
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 for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.63 EPS. Analysts expect that McDonald’s Co. will post 12.19 EPS for the current fiscal year.
McDonald’s Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.70%. McDonald’s’s dividend payout ratio is currently 56.71%.
About McDonald’s
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.