McDonald’s (NYSE:MCD) Shares Up 0.1%

McDonald’s Co. (NYSE:MCD)’s stock price shot up 0.1% during mid-day trading on Friday . The stock traded as high as $259.49 and last traded at $258.30. 728,755 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 3,363,767 shares. The stock had previously closed at $258.17.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MCD. JPMorgan Chase & Co. raised their price objective on McDonald’s from $290.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Truist Financial reduced their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Argus reiterated a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. BMO Capital Markets reduced their price target on McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, TD Cowen reiterated a “buy” rating and set a $305.00 price target on shares of McDonald’s in a research report on Thursday, June 13th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $315.14.

McDonald’s Stock Down 1.3 %

The business has a 50-day simple moving average of $263.31 and a two-hundred day simple moving average of $279.19. The stock has a market capitalization of $183.66 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.91 and a beta of 0.71.

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

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,095 shares of company stock worth $1,100,625. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Several institutional investors have recently added to or reduced their stakes in the stock. Roffman Miller Associates Inc. PA grew its stake in McDonald’s by 1.7% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after buying an additional 2,546 shares during the last quarter. Shulman DeMeo Asset Management LLC lifted its stake in McDonald’s by 12.2% in the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after purchasing an additional 114 shares during the last quarter. Aigen Investment Management LP bought a new position in McDonald’s in the 4th quarter valued at approximately $4,286,000. Strait & Sound Wealth Management LLC bought a new position in McDonald’s in the 4th quarter valued at approximately $211,000. Finally, First National Bank of Mount Dora Trust Investment Services increased its position in McDonald’s by 2.8% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after acquiring an additional 301 shares during the period. 70.29% of the stock is 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.