McDonald’s (NYSE:MCD) Stock Price Down 1.3%

McDonald’s Co. (NYSE:MCD) shares dropped 1.3% during trading on Monday . The stock traded as low as $272.25 and last traded at $273.00. Approximately 2,263,808 shares traded hands during trading, a decline of 37% from the average daily volume of 3,576,652 shares. The stock had previously closed at $276.69.

Analysts Set New Price Targets

MCD has been the subject of several analyst reports. KeyCorp lowered their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group lowered their target price on McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Guggenheim boosted their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Citigroup dropped their price objective on McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $303.00.

McDonald’s Stock Performance

The firm has a fifty day moving average price of $255.91 and a 200 day moving average price of $272.65. The firm has a market capitalization of $193.53 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly 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). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business earned $3.17 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.49%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is currently 56.71%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the transaction, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the transaction, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $5,225.38. The disclosure for this sale can be found here. Insiders sold 5,594 shares of company stock valued at $1,454,507 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Several hedge funds have recently made changes to their positions in MCD. Roffman Miller Associates Inc. PA boosted its holdings in McDonald’s by 1.7% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after acquiring an additional 2,546 shares during the last quarter. Aigen Investment Management LP acquired a new position in McDonald’s in the fourth quarter valued at $4,286,000. Strait & Sound Wealth Management LLC acquired a new position in McDonald’s in the fourth quarter valued at $211,000. Main Street Research LLC boosted its holdings in McDonald’s by 1.0% in the fourth quarter. Main Street Research LLC now owns 20,975 shares of the fast-food giant’s stock valued at $6,219,000 after acquiring an additional 199 shares during the last quarter. Finally, Choreo LLC boosted its holdings in McDonald’s by 22.0% in the fourth quarter. Choreo LLC now owns 23,244 shares of the fast-food giant’s stock valued at $6,892,000 after acquiring an additional 4,190 shares during the last quarter. Institutional investors and hedge funds 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.