McDonald’s (NYSE:MCD) Given New $310.00 Price Target at KeyCorp

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

Several other research firms have also recently commented on MCD. BMO Capital Markets lowered their target price on McDonald’s from $335.00 to $330.00 and set an outperform rating for the company in a research note on Wednesday. Oppenheimer restated a market perform rating on shares of McDonald’s in a research report on Friday, January 5th. StockNews.com cut shares of McDonald’s from a buy rating to a hold rating in a research report on Friday, February 9th. Stifel Nicolaus reduced their price objective on shares of McDonald’s from $315.00 to $300.00 and set a hold rating on the stock in a research note on Thursday, April 11th. Finally, Evercore ISI reiterated an outperform rating and set a $330.00 target price on shares of McDonald’s in a research report on Wednesday, March 27th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $317.37.

McDonald’s Stock Performance

Shares of MCD stock opened at $274.35 on Wednesday. The stock’s fifty day moving average is $280.53 and its 200-day moving average is $282.27. McDonald’s has a 52 week low of $245.73 and a 52 week high of $302.39. The stock has a market capitalization of $197.81 billion, a PE ratio of 23.29, a PEG ratio of 2.98 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share 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 company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 earnings per share. As a group, analysts forecast that McDonald’s will post 12.34 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.43%. The ex-dividend date 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 business’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 approximately $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s 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 directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’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 value of $303,750.72. Following the transaction, the insider now directly 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 corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s in the first quarter valued at $28,000. Signature Resources Capital Management LLC bought a new stake in shares of McDonald’s during the fourth quarter worth approximately $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 worth $32,000 after acquiring an additional 42 shares during the period. Spartan Planning & Wealth Management acquired a new position in shares of McDonald’s in the third quarter valued at approximately $33,000. Finally, Clear Investment Research LLC bought a new position in shares of McDonald’s during the fourth quarter worth approximately $38,000. 70.29% of the stock is currently owned by institutional investors.

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.