Robert W. Baird Cuts McDonald’s (NYSE:MCD) Price Target to $300.00

McDonald’s (NYSE:MCD) had its target price reduced by Robert W. Baird from $305.00 to $300.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the fast-food giant’s stock.

A number of other research analysts also recently issued reports on the company. Oppenheimer reissued a market perform rating on shares of McDonald’s in a research report on Friday, January 5th. Morgan Stanley reduced their target price on shares of McDonald’s from $327.00 to $320.00 and set an overweight rating for the company in a report on Friday, April 12th. Royal Bank of Canada decreased their price target on shares of McDonald’s from $340.00 to $335.00 and set an outperform rating for the company in a research report on Tuesday, February 6th. Evercore ISI reaffirmed an outperform rating and issued a $330.00 price objective on shares of McDonald’s in a research report on Wednesday, March 27th. Finally, Erste Group Bank reissued a hold rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, McDonald’s has a consensus rating of Moderate Buy and an average target price of $317.74.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $270.32 on Wednesday. The stock has a market cap of $194.90 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.95 and a beta of 0.71. The firm’s 50-day moving average is $280.07 and its two-hundred day moving average is $282.21. McDonald’s has a 1 year low of $245.73 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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). The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. McDonald’s’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.63 earnings per share. On average, equities analysts expect that McDonald’s will post 12.18 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s payout ratio is 56.71%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction 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 completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Hedge funds have recently modified their holdings of the company. Keener Financial Planning LLC increased its position in shares of McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in McDonald’s by 1.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 14,771 shares of the fast-food giant’s stock worth $4,165,000 after acquiring an additional 178 shares in the last quarter. 9258 Wealth Management LLC raised its position in McDonald’s by 1.3% during the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after acquiring an additional 37 shares during the period. Buck Wealth Strategies LLC raised its position in McDonald’s by 1,041.1% during the first quarter. Buck Wealth Strategies LLC now owns 23,541 shares of the fast-food giant’s stock worth $6,637,000 after acquiring an additional 21,478 shares during the period. Finally, Richardson Financial Services Inc. lifted its holdings in McDonald’s by 4.8% during the first quarter. Richardson Financial Services Inc. now owns 3,218 shares of the fast-food giant’s stock valued at $907,000 after purchasing an additional 147 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

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.