McDonald’s (NYSE:MCD) Price Target Cut to $305.00 by Analysts at KeyCorp

McDonald’s (NYSE:MCD) had its price target lowered by KeyCorp from $310.00 to $305.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the fast-food giant’s stock.

Several other equities analysts have also recently issued reports on the company. Erste Group Bank reiterated a hold rating on shares of McDonald’s in a report on Wednesday, April 3rd. Stifel Nicolaus reduced their target price on McDonald’s from $285.00 to $265.00 and set a hold rating on the stock in a report on Monday, July 22nd. Robert W. Baird reduced their target price on McDonald’s from $305.00 to $300.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Jefferies Financial Group reduced their target price on McDonald’s from $320.00 to $310.00 and set a buy rating on the stock in a report on Monday, July 29th. Finally, Citigroup reduced their target price on McDonald’s from $280.00 to $275.00 and set a neutral rating on the stock in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $303.00.

McDonald’s Stock Performance

Shares of MCD stock opened at $276.70 on Tuesday. The stock’s fifty day moving average is $255.91 and its 200-day moving average is $272.90. The stock has a market capitalization of $199.41 billion, a PE ratio of 23.49, a PEG ratio of 3.28 and a beta of 0.71. McDonald’s has a 52 week low of $243.53 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last announced its earnings results 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). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.17 EPS. As a group, analysts forecast that McDonald’s will post 11.78 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred 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 directly owns 19 shares in the company, valued at $5,225.38. The disclosure for this sale can be found here. Insiders have sold a total of 5,594 shares of company stock worth $1,454,507 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s during the 1st quarter worth approximately $28,000. Signature Resources Capital Management LLC acquired a new position in McDonald’s in the 4th quarter valued at $31,000. Clear Investment Research LLC acquired a new position in McDonald’s in the 4th quarter valued at $38,000. Kings Path Partners LLC acquired a new position in McDonald’s in the 2nd quarter valued at $38,000. Finally, Keener Financial Planning LLC acquired a new position in McDonald’s in the 4th quarter valued at $39,000. 70.29% of the stock is owned by institutional investors and hedge funds.

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.