McDonald’s (NYSE:MCD) Shares Down 1.5%

McDonald’s Co. (NYSE:MCD) shares were down 1.5% during mid-day trading on Monday . The stock traded as low as $250.64 and last traded at $250.97. Approximately 905,548 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 3,410,392 shares. The stock had previously closed at $254.84.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MCD shares. Truist Financial lowered their price target on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley cut their price target on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. The Goldman Sachs Group initiated coverage on McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective for the company. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. Finally, Evercore ISI restated an “outperform” rating and set a $330.00 price target on shares of McDonald’s in a research note on Wednesday, March 27th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $315.14.

McDonald’s Trading Down 1.5 %

The firm’s fifty day moving average is $263.31 and its 200 day moving average is $279.07. The company has a market cap of $180.96 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter last year, the company earned $2.63 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.66%. McDonald’s’s payout ratio is presently 56.71%.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now directly 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 Securities & Exchange Commission, which is available through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the transaction, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated 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 $4,696,517.28. The disclosure for this sale can be found here. Insiders sold 4,095 shares of company stock worth $1,100,625 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

A number of hedge funds have recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the first quarter worth $28,000. Signature Resources Capital Management LLC purchased a new position in McDonald’s during the 4th quarter valued at about $31,000. Spartan Planning & Wealth Management acquired a new position in McDonald’s in the 3rd quarter valued at about $33,000. Clear Investment Research LLC purchased a new stake in McDonald’s during the fourth quarter worth about $38,000. Finally, Keener Financial Planning LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth about $39,000. Hedge funds and other 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.