McDonald’s (NYSE:MCD) Price Target Lowered to $358.00 at Barclays

by · The Markets Daily

McDonald’s (NYSE:MCD – Free Report) had its target price cut by Barclays from $362.00 to $358.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the fast-food giant’s stock.

A number of other equities analysts also recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Evercore ISI lifted their price target on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Thursday, July 10th. Finally, Melius assumed coverage on McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $323.91.

Check Out Our Latest Analysis on MCD

McDonald’s Stock Performance

MCD stock traded up $1.30 on Thursday, reaching $299.71. The company’s stock had a trading volume of 3,247,828 shares, compared to its average volume of 3,452,741. The firm has a market cap of $213.88 billion, a PE ratio of 25.68, a PEG ratio of 3.23 and a beta of 0.50. The business has a fifty day simple moving average of $304.67 and a two-hundred day simple moving average of $305.20. McDonald’s has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the company posted $3.23 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.5%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is 63.48%.

Insider Buying and Selling at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 15,134 shares of company stock worth $4,570,716. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Institutional investors and hedge funds have recently modified their holdings of the company. Decker Retirement Planning Inc. boosted its position in McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the 2nd quarter worth approximately $25,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s in the first quarter worth approximately $26,000. Finally, Evergreen Private Wealth LLC grew its position in McDonald’s by 162.5% during the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after buying an additional 52 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Company Profile

(Get Free Report)

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, Spain, and the U.K.

Featured Articles