McDonald’s (NYSE:MCD) PT Lowered to $305.00 at KeyCorp

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

Several other analysts also recently commented on the stock. Morgan Stanley decreased their target price on shares of McDonald’s from $312.00 to $300.00 and set an overweight rating for the company in a research report on Thursday, July 11th. Guggenheim lowered their target price on shares of McDonald’s from $315.00 to $280.00 and set a buy rating on the stock in a research report on Tuesday, July 2nd. Truist Financial lowered their price objective on McDonald’s from $300.00 to $295.00 and set a buy rating on the stock in a report on Tuesday. The Goldman Sachs Group started coverage on shares of McDonald’s in a research note on Thursday, June 13th. They issued a neutral rating and a $288.00 price objective for the company. Finally, BMO Capital Markets lowered their target price on shares of McDonald’s from $330.00 to $315.00 and set an outperform rating on the stock in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of Moderate Buy and a consensus target price of $302.64.

McDonald’s Stock Up 1.3 %

McDonald’s stock opened at $268.75 on Tuesday. McDonald’s has a 12 month low of $243.53 and a 12 month high of $302.39. The stock has a market cap of $193.68 billion, a P/E ratio of 22.81, a P/E/G ratio of 3.28 and a beta of 0.71. The company’s fifty day simple moving average is $255.54 and its 200-day simple moving average is $273.02.

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

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Insider Buying and Selling at McDonald’s

In related news, EVP Jonathan Banner sold 800 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the 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 of the company’s stock, valued at approximately $5,225.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,594 shares of company stock valued at $1,454,507. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s during the 1st quarter worth approximately $28,000. Signature Resources Capital Management LLC bought a new position in McDonald’s in the fourth quarter valued at $31,000. Clear Investment Research LLC acquired a new stake in McDonald’s in the 4th quarter valued at $38,000. Kings Path Partners LLC bought a new stake in McDonald’s during the 2nd quarter worth about $38,000. Finally, Keener Financial Planning LLC bought a new stake in McDonald’s during the 4th quarter worth about $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.