McDonald’s (NYSE:MCD) PT Lowered to $342.00 at Loop Capital

McDonald’s (NYSE:MCD) had its target price trimmed by Loop Capital from $357.00 to $342.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the fast-food giant’s stock.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets reduced their price target on shares of McDonald’s from $330.00 to $315.00 and set an outperform rating on the stock in a research report on Tuesday. Evercore ISI reduced their price target on shares of McDonald’s from $330.00 to $300.00 and set an outperform rating on the stock in a research report on Tuesday, July 16th. Wedbush restated an outperform rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. JPMorgan Chase & Co. cut their price objective on shares of McDonald’s from $290.00 to $270.00 and set an overweight rating on the stock in a report on Tuesday. Finally, Truist Financial cut their price objective on shares of McDonald’s from $300.00 to $295.00 and set a buy rating on the stock in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $303.00.

McDonald’s Trading Up 3.0 %

Shares of NYSE:MCD opened at $276.70 on Tuesday. The company has a market cap of $199.41 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The company has a 50-day moving average price of $255.91 and a 200-day moving average price of $272.90. McDonald’s has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the company posted $3.17 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, research analysts forecast that McDonald’s will post 11.71 EPS for the current fiscal year.

McDonald’s Announces Dividend

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

Insiders Place Their Bets

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

Institutional Trading of McDonald’s

A number of hedge funds and other institutional investors have recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s during the first quarter valued at $28,000. Signature Resources Capital Management LLC purchased a new position in McDonald’s during the fourth quarter valued at $31,000. Clear Investment Research LLC purchased a new position in McDonald’s during the fourth quarter valued at $38,000. Kings Path Partners LLC purchased a new position in McDonald’s during the second quarter valued at $38,000. Finally, Keener Financial Planning LLC purchased a new position in McDonald’s during the fourth quarter valued at $39,000. 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.