McDonald’s (NYSE:MCD) Given New $340.00 Price Target at Truist Financial

McDonald’s (NYSE:MCD) had its price target reduced by Truist Financial from $342.00 to $340.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the fast-food giant’s stock.

Several other brokerages have also recently weighed in on MCD. TD Cowen reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Morgan Stanley reduced their price objective on McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Piper Sandler decreased their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Barclays lifted their price target on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Trading Up 0.6 %

Shares of MCD opened at $310.16 on Tuesday. The stock has a 50 day simple moving average of $291.02 and a 200-day simple moving average of $291.56. The stock has a market cap of $222.27 billion, a PE ratio of 27.23, a PEG ratio of 4.08 and a beta of 0.74. McDonald’s has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. On average, sell-side analysts forecast that McDonald’s will post 11.73 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.28%. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

Insider Buying and Selling

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the transaction, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,406 shares of company stock valued at $2,150,857. 0.23% of the stock is owned by insiders.

Institutional Trading of McDonald’s

Large investors have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC boosted its holdings in shares of McDonald’s by 8.0% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 3,236 shares of the fast-food giant’s stock valued at $938,000 after purchasing an additional 240 shares in the last quarter. First American Trust FSB boosted its stake in McDonald’s by 2.4% in the fourth quarter. First American Trust FSB now owns 23,683 shares of the fast-food giant’s stock valued at $6,865,000 after buying an additional 556 shares in the last quarter. Heritage Wealth Management Inc. CA grew its position in McDonald’s by 108.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 971 shares of the fast-food giant’s stock valued at $281,000 after acquiring an additional 505 shares during the last quarter. Ashton Thomas Securities LLC grew its position in McDonald’s by 42.6% in the fourth quarter. Ashton Thomas Securities LLC now owns 1,838 shares of the fast-food giant’s stock valued at $534,000 after acquiring an additional 549 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in McDonald’s by 6.2% during the fourth quarter. TD Asset Management Inc. now owns 1,297,910 shares of the fast-food giant’s stock worth $376,251,000 after acquiring an additional 75,540 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.