McDonald’s (NYSE:MCD) Shares Down 0.4% After Insider Selling

Shares of McDonald’s Co. (NYSE:MCD) traded down 0.4% on Tuesday following insider selling activity. The stock traded as low as $285.60 and last traded at $287.46. 481,992 shares were traded during trading, a decline of 86% from the average session volume of 3,501,247 shares. The stock had previously closed at $288.66.

Specifically, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

MCD has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research note on Monday, July 29th. Barclays dropped their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Bank of America reduced their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Truist Financial dropped 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, July 30th. Finally, Citigroup decreased their target price on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a research 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. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.89.

McDonald’s Price Performance

The firm has a market cap of $207.51 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 3.86 and a beta of 0.72. The business’s 50-day moving average price is $267.35 and its two-hundred day moving average price is $270.81.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the firm earned $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts predict that McDonald’s Co. will post 11.67 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 issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio is 56.71%.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s in the 1st quarter valued at $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s in the fourth quarter worth about $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of McDonald’s during the 4th quarter worth about $39,000. Kings Path Partners LLC bought a new stake in McDonald’s during the 2nd quarter valued at approximately $38,000. Finally, Accent Capital Management LLC acquired a new stake in McDonald’s in the 4th quarter valued at approximately $44,000. 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.