Truist Financial Trims McDonald’s (NYSE:MCD) Target Price to $300.00

McDonald’s (NYSE:MCD) had its target price decreased by Truist Financial from $320.00 to $300.00 in a report issued on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the fast-food giant’s stock.

A number of other research analysts have also commented on MCD. Argus reiterated a hold rating on shares of McDonald’s in a research report on Monday, March 25th. KeyCorp reduced their price target on McDonald’s from $315.00 to $310.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. Evercore ISI restated an outperform rating and issued a $330.00 price target on shares of McDonald’s in a research report on Wednesday, March 27th. The Goldman Sachs Group began coverage on McDonald’s in a research report on Thursday, June 13th. They issued a neutral rating and a $288.00 price target on the stock. Finally, Bank of America reduced their price target on McDonald’s from $302.00 to $288.00 and set a neutral rating on the stock in a research report on Tuesday, May 28th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, McDonald’s has a consensus rating of Moderate Buy and a consensus price target of $312.11.

McDonald’s Price Performance

MCD stock opened at $253.90 on Tuesday. The stock has a market capitalization of $182.98 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.82 and a beta of 0.71. The business has a fifty day moving average price of $258.50 and a 200 day moving average price of $276.45. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. 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 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio is 56.71%.

Insider Activity at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated 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 owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 completion of the transaction, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,593 shares of company stock valued at $1,472,518. 0.23% of the stock is owned by insiders.

Hedge Funds Weigh In On McDonald’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Independent Wealth Network Inc. grew its holdings in McDonald’s by 4.2% during the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after purchasing an additional 35 shares during the period. Concentric Wealth Management LLC boosted its holdings in shares of McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after acquiring an additional 35 shares during the period. Paragon Capital Management Ltd boosted its holdings in shares of McDonald’s by 2.7% during the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock worth $407,000 after acquiring an additional 36 shares during the period. Mechanics Financial Corp boosted its holdings in shares of McDonald’s by 0.7% during the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock worth $1,581,000 after acquiring an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after acquiring an additional 36 shares during the period. 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.