McDonald’s (NYSE:MCD) Price Target Cut to $315.00 by Analysts at Guggenheim

McDonald’s (NYSE:MCD) had its target price trimmed by Guggenheim from $325.00 to $315.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the fast-food giant’s stock.

Several other research firms have also commented on MCD. Evercore ISI restated an outperform rating and issued a $330.00 price target on shares of McDonald’s in a report on Wednesday, March 27th. JPMorgan Chase & Co. cut their target price on shares of McDonald’s from $300.00 to $290.00 and set an overweight rating on the stock in a research note on Wednesday. Truist Financial decreased their price target on shares of McDonald’s from $337.00 to $320.00 and set a buy rating for the company in a research report on Thursday. BMO Capital Markets cut their price objective on McDonald’s from $335.00 to $330.00 and set an outperform rating on the stock in a research report on Wednesday. Finally, Morgan Stanley decreased their target price on McDonald’s from $327.00 to $320.00 and set an overweight rating for the company in a research report on Friday, April 12th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $317.74.

McDonald’s Stock Down 1.1 %

Shares of NYSE MCD traded down $2.96 during trading on Thursday, hitting $270.32. 2,642,344 shares of the company traded hands, compared to its average volume of 3,812,742. The firm has a market capitalization of $194.90 billion, a P/E ratio of 22.95, a P/E/G ratio of 2.95 and a beta of 0.71. The company has a 50-day moving average price of $279.53 and a 200-day moving average price of $282.35. McDonald’s has a 1 year low of $245.73 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. McDonald’s’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.63 EPS. Research analysts predict that McDonald’s will post 12.18 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Thursday, February 29th. McDonald’s’s dividend payout ratio is presently 56.71%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares in the company, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of McDonald’s

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in McDonald’s in the fourth quarter worth about $2,684,899,000. Gallagher Fiduciary Advisors LLC boosted its stake in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. International Assets Investment Management LLC grew its holdings in shares of McDonald’s by 10,702.5% during the fourth quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after buying an additional 2,154,297 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after acquiring an additional 987,099 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in McDonald’s in the 3rd quarter valued at approximately $192,165,000. 70.29% of the stock is owned by institutional investors and hedge funds.

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.