McDonald’s (NYSE:MCD) Price Target Lowered to $310.00 at KeyCorp

McDonald’s (NYSE:MCD) had its target price decreased by KeyCorp from $315.00 to $310.00 in a research report report published on Wednesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the fast-food giant’s stock.

MCD has been the subject of several other reports. BMO Capital Markets lowered their price target on shares of McDonald’s from $335.00 to $330.00 and set an outperform rating for the company in a report on Wednesday. TD Cowen reaffirmed a buy rating and issued a $305.00 target price on shares of McDonald’s in a report on Tuesday, April 30th. Oppenheimer reissued a market perform rating on shares of McDonald’s in a research note on Friday, January 5th. UBS Group lowered their price objective on McDonald’s from $340.00 to $335.00 and set a buy rating for the company in a research note on Friday, April 5th. Finally, Royal Bank of Canada dropped their price objective on shares of McDonald’s from $340.00 to $335.00 and set an outperform rating for the company in a report on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, McDonald’s currently has an average rating of Moderate Buy and an average target price of $317.74.

McDonald’s Stock Down 1.1 %

Shares of MCD stock opened at $270.32 on Wednesday. McDonald’s has a twelve month low of $245.73 and a twelve month high of $302.39. The business has a fifty day simple moving average of $279.53 and a 200 day simple moving average of $282.35. The company has a market cap of $194.90 billion, a P/E ratio of 22.95, a P/E/G ratio of 2.91 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its 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 the consensus estimate of $6.16 billion. McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $2.63 EPS. As a group, equities research analysts anticipate that McDonald’s will post 12.18 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a yield of 2.47%. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on 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 $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’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 in the company, valued at $4,696,517.28. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Several hedge funds have recently modified their holdings of the company. Keener Financial Planning LLC boosted its position in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of McDonald’s by 1.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 14,771 shares of the fast-food giant’s stock worth $4,165,000 after buying an additional 178 shares during the last quarter. 9258 Wealth Management LLC grew its position in McDonald’s by 1.3% during the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after buying an additional 37 shares during the period. Buck Wealth Strategies LLC increased its holdings in McDonald’s by 1,041.1% during the first quarter. Buck Wealth Strategies LLC now owns 23,541 shares of the fast-food giant’s stock worth $6,637,000 after buying an additional 21,478 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its position in McDonald’s by 4.8% in the first quarter. Richardson Financial Services Inc. now owns 3,218 shares of the fast-food giant’s stock worth $907,000 after acquiring an additional 147 shares during the period. 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.