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

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

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of McDonald’s from a buy rating to a hold rating in a research report on Friday, February 9th. UBS Group decreased their target price on shares of McDonald’s from $340.00 to $335.00 and set a buy rating on the stock in a research report on Friday, April 5th. Robert W. Baird reduced their price target on shares of McDonald’s from $305.00 to $300.00 and set an outperform rating on the stock in a research report on Wednesday. Stephens reaffirmed an overweight rating and set a $320.00 price target on shares of McDonald’s in a research report on Monday, February 5th. Finally, BMO Capital Markets reduced their price target on shares of McDonald’s from $335.00 to $330.00 and set an outperform rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $317.74.

McDonald’s Stock Down 1.1 %

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

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 the consensus estimate 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 analyst estimates of $6.16 billion. During the same period in the prior year, the business posted $2.63 earnings per share. McDonald’s’s revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts expect that McDonald’s will post 12.18 earnings per share for the current year.

McDonald’s Announces Dividend

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

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction 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 sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction 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 $5,140,168.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Institutional investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the first quarter valued at $28,000. Signature Resources Capital Management LLC acquired a new position in shares of McDonald’s during the fourth quarter valued at $31,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of McDonald’s by 51.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after acquiring an additional 42 shares during the period. Spartan Planning & Wealth Management acquired a new position in shares of McDonald’s during the third quarter valued at $33,000. Finally, Clear Investment Research LLC acquired a new position in shares of McDonald’s during the fourth quarter valued at $38,000. Institutional investors 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.