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

McDonald’s (NYSE:MCD) had its price objective reduced by KeyCorp from $315.00 to $310.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the fast-food giant’s stock.

Several other brokerages also recently weighed in on MCD. BTIG Research downgraded shares of McDonald’s from a buy rating to a neutral rating in a report on Tuesday, February 6th. Citigroup dropped their price objective on shares of McDonald’s from $312.00 to $297.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Bank of America raised their price objective on McDonald’s from $291.00 to $341.00 and gave the company a neutral rating in a research report on Monday, January 29th. Oppenheimer restated a market perform rating on shares of McDonald’s in a research report on Friday, January 5th. Finally, Robert W. Baird cut their price objective on McDonald’s from $305.00 to $300.00 and set an outperform rating for the company in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $317.74.

McDonald’s Price Performance

Shares of MCD stock opened at $270.32 on Wednesday. The company has a market capitalization of $194.90 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.95 and a beta of 0.71. The company’s fifty day moving average price is $280.07 and its 200-day moving average price is $282.21. McDonald’s has a one year low of $245.73 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last issued its 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). The firm 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 EPS. Equities research analysts expect that McDonald’s will post 12.18 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s payout ratio is currently 56.71%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred 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 directly 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. 0.23% of the stock is owned by insiders.

Institutional Trading of McDonald’s

Several institutional investors and hedge funds have recently modified their holdings of the stock. Independent Wealth Network Inc. grew its holdings in shares of McDonald’s by 4.2% during the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after buying an additional 35 shares in the last quarter. Concentric Wealth Management LLC grew its holdings in McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the period. Paragon Capital Management Ltd grew its holdings in McDonald’s by 2.7% in the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after purchasing an additional 36 shares during the period. Mechanics Financial Corp grew its holdings in McDonald’s by 0.7% in the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC grew its holdings in McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the period. 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.