McDonald’s (NYSE:MCD) Shares Up 0.9%

Shares of McDonald’s Co. (NYSE:MCD) shot up 0.9% during mid-day trading on Monday . The stock traded as high as $292.09 and last traded at $292.06. 429,644 shares traded hands during trading, a decline of 88% from the average session volume of 3,535,445 shares. The stock had previously closed at $289.52.

Analysts Set New Price Targets

Several brokerages have issued reports on MCD. Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Truist Financial dropped their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Guggenheim raised their price objective on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Loop Capital dropped their price objective on McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $303.71.

McDonald’s Stock Performance

The stock’s 50-day moving average price is $263.63 and its 200-day moving average price is $270.77. The company has a market capitalization of $206.91 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. 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 business posted $3.17 earnings per share. McDonald’s’s revenue was down .1% on a year-over-year basis. Analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.33%. McDonald’s’s payout ratio is 56.71%.

Insider Activity

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last three months, insiders sold 4,793 shares of company stock worth $1,260,106. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GUNN & Co INVESTMENT MANAGEMENT INC. raised its holdings in McDonald’s by 1,168.1% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,419 shares of the fast-food giant’s stock valued at $49,938,000 after acquiring an additional 155,138 shares during the last quarter. Silver Oak Securities Incorporated raised its holdings in McDonald’s by 68.6% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,958 shares of the fast-food giant’s stock valued at $581,000 after acquiring an additional 797 shares during the last quarter. Gilbert & Cook Inc. increased its holdings in shares of McDonald’s by 20.7% during the 4th quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock worth $1,300,000 after buying an additional 753 shares during the last quarter. Anchor Capital Advisors LLC acquired a new stake in shares of McDonald’s during the 4th quarter worth $1,924,000. Finally, Ledyard National Bank increased its holdings in shares of McDonald’s by 20.9% during the 4th quarter. Ledyard National Bank now owns 4,562 shares of the fast-food giant’s stock worth $1,353,000 after buying an additional 789 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.