McDonald’s (NYSE:MCD) PT Lowered to $295.00

McDonald’s (NYSE:MCD) had its price objective cut by Truist Financial from $300.00 to $295.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the fast-food giant’s stock.

A number of other research firms also recently weighed in on MCD. TD Cowen reaffirmed a buy rating and set a $285.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Evercore ISI reduced their price target on McDonald’s from $330.00 to $300.00 and set an outperform rating for the company in a research report on Tuesday, July 16th. Barclays dropped their price objective on McDonald’s from $320.00 to $300.00 and set an overweight rating on the stock in a research note on Tuesday. Guggenheim dropped their price objective on McDonald’s from $315.00 to $280.00 and set a buy rating on the stock in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on McDonald’s from $290.00 to $270.00 and set an overweight rating on the stock in a research note on Tuesday. Eleven 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, McDonald’s presently has an average rating of Moderate Buy and an average price target of $303.00.

McDonald’s Stock Performance

Shares of MCD opened at $276.70 on Tuesday. The stock has a 50 day simple moving average of $255.91 and a 200 day simple moving average of $272.90. McDonald’s has a 52-week low of $243.53 and a 52-week high of $302.39. The firm has a market capitalization of $199.41 billion, a PE ratio of 23.49, a P/E/G ratio of 3.28 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the company earned $3.17 EPS. The company’s revenue was down .1% compared to the same quarter last year. Equities research analysts predict that McDonald’s will post 11.78 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is currently 56.71%.

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,594 shares of company stock worth $1,454,507. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the first quarter worth about $28,000. Signature Resources Capital Management LLC bought a new stake in shares of McDonald’s during the fourth quarter worth about $31,000. Clear Investment Research LLC bought a new stake in shares of McDonald’s during the fourth quarter worth about $38,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the second quarter worth about $38,000. Finally, Keener Financial Planning LLC bought a new stake in shares of McDonald’s during the fourth quarter worth about $39,000. Institutional investors own 70.29% of the company’s stock.

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.