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

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

MCD has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of McDonald’s from $300.00 to $290.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. StockNews.com downgraded shares of McDonald’s from a buy rating to a hold rating in a report on Friday, February 9th. Oppenheimer reissued a market perform rating on shares of McDonald’s in a report on Friday, January 5th. BMO Capital Markets dropped their target price on shares of McDonald’s from $335.00 to $330.00 and set an outperform rating for the company in a research note on Wednesday, May 1st. Finally, Citigroup dropped their target price on shares of McDonald’s from $312.00 to $297.00 and set a neutral rating for the company in a research note on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, McDonald’s has an average rating of Moderate Buy and an average target price of $317.74.

McDonald’s Price Performance

Shares of McDonald’s stock traded down $0.41 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 business has a 50-day simple moving average of $279.53 and a 200-day simple moving average of $282.76. The company has a market cap of $194.61 billion, a PE ratio of 22.95, a PEG ratio of 3.01 and a beta of 0.71. McDonald’s has a 52 week low of $245.73 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last released its 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). McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the previous year, the company earned $2.63 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that McDonald’s will post 12.18 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on 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.

Hedge Funds Weigh In On McDonald’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s in the 1st quarter valued at approximately $28,000. Signature Resources Capital Management LLC acquired a new stake in shares of McDonald’s during the 4th quarter worth $31,000. Blue Bell Private Wealth Management LLC increased its holdings in McDonald’s by 51.9% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Spartan Planning & Wealth Management acquired a new stake in McDonald’s in the 3rd quarter valued at $33,000. Finally, Clear Investment Research LLC purchased a new position in McDonald’s in the 4th quarter valued at about $38,000. 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.