Barclays Cuts McDonald’s (NYSE:MCD) Price Target to $300.00

McDonald’s (NYSE:MCD) had its price target cut by Barclays from $320.00 to $300.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the fast-food giant’s stock.

Several other research firms have also recently weighed in on MCD. Deutsche Bank Aktiengesellschaft cut their price objective on McDonald’s from $310.00 to $295.00 and set a buy rating on the stock in a report on Tuesday, July 16th. Erste Group Bank reiterated a hold rating on shares of McDonald’s in a report on Wednesday, April 3rd. Stifel Nicolaus cut their price objective on McDonald’s from $285.00 to $265.00 and set a hold rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group started coverage on McDonald’s in a report on Thursday, June 13th. They set a neutral rating and a $288.00 price objective on the stock. Finally, KeyCorp cut their target price on McDonald’s from $315.00 to $310.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $303.00.

McDonald’s Trading Up 3.0 %

McDonald’s stock opened at $276.70 on Tuesday. The firm has a market capitalization of $199.41 billion, a P/E ratio of 23.49, a PEG ratio of 3.28 and a beta of 0.71. McDonald’s has a 1 year low of $243.53 and a 1 year high of $302.39. The business has a 50-day moving average of $255.91 and a 200-day moving average of $272.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the firm posted $3.17 earnings per share. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts anticipate that McDonald’s will post 11.78 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the 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 transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the transaction, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Banner sold 800 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The disclosure for this sale can be found here. Insiders have sold a total of 5,594 shares of company stock valued at $1,454,507 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of McDonald’s

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of McDonald’s by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares in the last quarter. Norges Bank acquired a new stake in shares of McDonald’s during the 4th quarter worth $2,684,899,000. Price T Rowe Associates Inc. MD grew its holdings in shares of McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares in the last quarter. Gallagher Fiduciary Advisors LLC grew its holdings in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

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.