McDonald’s Co. (NYSE:MCD – Get Free Report)’s stock price fell 1% on Tuesday . The stock traded as low as $293.55 and last traded at $293.77. 610,715 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,460,482 shares. The stock had previously closed at $296.69.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on MCD shares. BMO Capital Markets cut their price target on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Barclays decreased their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. KeyCorp reduced their price objective 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. Finally, The Goldman Sachs Group assumed coverage on shares of McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $306.11.
McDonald’s Stock Down 1.1 %
The firm’s 50 day simple moving average is $273.87 and its two-hundred day simple moving average is $270.50. The stock has a market cap of $211.47 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.
McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $3.17 EPS. As a group, equities analysts predict that McDonald’s Co. will post 11.67 EPS for the current year.
McDonald’s Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.28%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.
Insider Activity at McDonald’s
In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now owns 13,681 shares in the company, valued at $3,557,060. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 in the last three months. 0.23% of the stock is owned by company insiders.
Institutional Investors Weigh In On McDonald’s
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its stake in McDonald’s by 12.5% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 4,738 shares of the fast-food giant’s stock valued at $1,207,000 after buying an additional 528 shares in the last quarter. American Trust boosted its position in shares of McDonald’s by 10.9% in the second quarter. American Trust now owns 7,653 shares of the fast-food giant’s stock worth $1,950,000 after buying an additional 754 shares during the period. Heritage Wealth Management Inc. acquired a new position in McDonald’s in the 2nd quarter valued at approximately $2,762,000. Lazari Capital Management Inc. lifted its position in shares of McDonald’s by 20.7% in the second quarter. Lazari Capital Management Inc. now owns 1,928 shares of the fast-food giant’s stock worth $491,000 after buying an additional 330 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in McDonald’s in the 2nd quarter worth approximately $52,675,000. 70.29% of the stock is owned by institutional investors and hedge funds.
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.