Truist Financial Trims McDonald’s (NYSE:MCD) Target Price to $320.00

McDonald’s (NYSE:MCD) had its price objective decreased by Truist Financial from $337.00 to $320.00 in a research note published on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the fast-food giant’s stock.

A number of other research firms have also recently commented on MCD. StockNews.com cut McDonald’s from a buy rating to a hold rating in a research report on Friday, February 9th. Argus reissued a hold rating on shares of McDonald’s in a research note on Monday, March 25th. BMO Capital Markets reduced their target price on McDonald’s from $335.00 to $330.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. TD Cowen reissued a buy rating and issued a $305.00 price objective on shares of McDonald’s in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price target on McDonald’s from $300.00 to $290.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s has a consensus rating of Moderate Buy and a consensus target price of $317.74.

McDonald’s Stock Down 0.2 %

Shares of MCD traded down $0.41 during trading hours on Thursday, hitting $269.91. The company had a trading volume of 1,076,366 shares, compared to its average volume of 3,294,726. The firm has a market cap of $194.61 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 3.01 and a beta of 0.71. The business has a fifty day moving average of $279.53 and a 200-day moving average of $282.76. McDonald’s has a 12 month low of $245.73 and a 12 month 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 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.63 earnings per share. On average, equities analysts expect that McDonald’s will post 12.18 EPS for the current fiscal year.

McDonald’s Announces Dividend

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

Insider Activity at McDonald’s

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Roffman Miller Associates Inc. PA lifted its stake in shares of 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 worth $46,179,000 after acquiring an additional 2,546 shares during the period. Shulman DeMeo Asset Management LLC grew its position in shares of McDonald’s by 12.2% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after acquiring an additional 114 shares during the period. Beaumont Financial Advisors LLC boosted its holdings in McDonald’s by 0.6% in the 3rd quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock worth $21,191,000 after buying an additional 450 shares during the period. First National Bank of Mount Dora Trust Investment Services lifted its stake in McDonald’s by 2.8% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after purchasing an additional 301 shares in the last quarter. Finally, Mengis Capital Management Inc. lifted its stake in McDonald’s by 7.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 4,522 shares of the fast-food giant’s stock worth $1,191,000 after purchasing an additional 331 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

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.