McDonald’s (NYSE:MCD) Trading 1.5% Higher

McDonald’s Co. (NYSE:MCD)’s stock price rose 1.5% on Tuesday . The stock traded as high as $272.39 and last traded at $272.37. Approximately 853,151 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 3,588,102 shares. The stock had previously closed at $268.45.

Analyst Ratings Changes

MCD has been the topic of several analyst reports. Evercore ISI cut their target price on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Citigroup cut their target price on McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Truist Financial cut their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Bank of America cut their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Finally, Loop Capital cut their target price on McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.00.

McDonald’s Stock Up 0.6 %

The stock has a 50 day simple moving average of $256.12 and a two-hundred day simple moving average of $272.46. The stock has a market capitalization of $194.63 billion, a P/E ratio of 23.12, a P/E/G 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 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during 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 firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.17 earnings per share. Sell-side analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $1.67 dividend. 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 2.47%. McDonald’s’s payout ratio is 56.71%.

Insider Activity

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’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 sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’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 transaction of $291,377.87. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’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 sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Insiders sold a total of 5,594 shares of company stock valued at $1,454,507 over the last three months. Insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Several hedge funds have recently added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s during the 1st quarter worth approximately $28,000. Signature Resources Capital Management LLC acquired a new stake in McDonald’s during the 4th quarter worth approximately $31,000. Clear Investment Research LLC acquired a new stake in McDonald’s during the 4th quarter worth approximately $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.