McDonald’s (NYSE:MCD) Shares Down 0.3%

McDonald’s Co. (NYSE:MCD)’s share price was down 0.3% during mid-day trading on Tuesday . The stock traded as low as $267.54 and last traded at $268.54. Approximately 482,126 shares changed hands during trading, a decline of 87% from the average daily volume of 3,572,539 shares. The stock had previously closed at $269.46.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MCD shares. Truist Financial dropped their target price on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Evercore ISI dropped their price objective on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. The Goldman Sachs Group began coverage on McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price on the stock. Citigroup dropped their price target on McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, Barclays cut their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.00.

McDonald’s Stock Performance

The business’s fifty day moving average price is $257.60 and its two-hundred day moving average price is $271.42. The firm has a market capitalization of $194.81 billion, a P/E ratio of 22.80, a PEG ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the business earned $3.17 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.47%. McDonald’s’s payout ratio is presently 56.71%.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were 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 directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the sale, the insider now owns 15,878 shares in the company, valued at $4,209,734.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,794 shares of company stock valued at $1,234,491. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the first quarter valued at approximately $28,000. Signature Resources Capital Management LLC acquired a new stake in McDonald’s in the 4th quarter valued at $31,000. Clear Investment Research LLC purchased a new stake in McDonald’s in the 4th quarter worth $38,000. Kings Path Partners LLC acquired a new position in McDonald’s during the second quarter worth $38,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in McDonald’s during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

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.