McDonald’s (NYSE:MCD) Given New $290.00 Price Target at Deutsche Bank Aktiengesellschaft

McDonald’s (NYSE:MCD) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $295.00 to $290.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the fast-food giant’s stock.

Several other research firms have also recently weighed in on MCD. Bank of America decreased their price objective on shares of McDonald’s from $288.00 to $278.00 and set a neutral rating on the stock in a research report on Tuesday. Erste Group Bank restated a hold rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Morgan Stanley decreased their price objective on shares of McDonald’s from $312.00 to $300.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. TD Cowen restated a buy rating and issued a $285.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Finally, Citigroup cut their target price on McDonald’s from $280.00 to $275.00 and set a neutral rating for the company in a research note on Tuesday. Eleven 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 MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $303.00.

McDonald’s Stock Up 3.0 %

Shares of MCD opened at $276.70 on Tuesday. The business’s 50-day moving average price is $255.91 and its 200-day moving average price is $272.90. McDonald’s has a twelve month low of $243.53 and a twelve month high of $302.39. The stock has a market cap 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 announced its quarterly 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 company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.17 earnings per share. Analysts expect that McDonald’s will post 11.78 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

Insider Activity at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the company’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 completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of the company’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 completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. Insiders sold a total of 5,594 shares of company stock worth $1,454,507 over the last quarter. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

A number of institutional investors have recently added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s in the first quarter worth $28,000. Signature Resources Capital Management LLC bought a new position in McDonald’s in the fourth quarter worth $31,000. Clear Investment Research LLC bought a new position in McDonald’s in the fourth quarter worth $38,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the second quarter valued at $38,000. Finally, Keener Financial Planning LLC bought a new position in shares of McDonald’s during the fourth quarter valued at $39,000. Institutional investors own 70.29% of the company’s stock.

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.