McDonald’s (NYSE:MCD) Price Target Lowered to $320.00 at Truist Financial

McDonald’s (NYSE:MCD) had its target price lowered by Truist Financial from $337.00 to $320.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the fast-food giant’s stock.

A number of other equities analysts have also issued reports on the company. TD Cowen restated a buy rating and issued a $305.00 target price on shares of McDonald’s in a research note on Tuesday. Evercore ISI restated an outperform rating and issued a $330.00 target price on shares of McDonald’s in a research note on Wednesday, March 27th. Wedbush reduced their target price on McDonald’s from $330.00 to $300.00 and set an outperform rating for the company in a research note on Friday, April 26th. Royal Bank of Canada reduced their target price on McDonald’s from $340.00 to $335.00 and set an outperform rating for the company in a research note on Tuesday, February 6th. Finally, KeyCorp reduced their price objective on McDonald’s from $315.00 to $310.00 and set an overweight rating for the company in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $317.74.

McDonald’s Trading Down 1.1 %

Shares of MCD traded down $2.96 during midday trading on Thursday, hitting $270.32. 2,642,344 shares of the company’s stock traded hands, compared to its average volume of 3,812,742. McDonald’s has a 1 year low of $245.73 and a 1 year high of $302.39. The firm’s fifty day moving average is $279.53 and its 200-day moving average is $282.35. The stock has a market capitalization of $194.90 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its earnings results 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 firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.63 EPS. On average, equities research analysts anticipate that McDonald’s will post 12.18 EPS for the current year.

McDonald’s Dividend Announcement

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

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 value of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 value of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MCD. Norges Bank acquired a new position in McDonald’s during the fourth quarter worth $2,684,899,000. Gallagher Fiduciary Advisors LLC lifted its stake in McDonald’s by 141,160.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares in the last quarter. International Assets Investment Management LLC lifted its stake in McDonald’s by 10,702.5% during the fourth quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock worth $644,739,000 after purchasing an additional 2,154,297 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in McDonald’s by 15.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of McDonald’s in the third quarter valued at $192,165,000. 70.29% of the stock is currently 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.