McDonald’s (NYSE:MCD) Given New $340.00 Price Target at Truist Financial

McDonald’s (NYSE:MCD) had its price objective reduced by Truist Financial from $342.00 to $340.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the fast-food giant’s stock.

Several other brokerages also recently issued reports on MCD. Wedbush boosted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday. BMO Capital Markets increased their price objective on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday. Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Bank of America increased their price target on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, TD Cowen reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Stock Up 0.6 %

NYSE:MCD opened at $310.16 on Tuesday. The stock has a fifty day simple moving average of $291.02 and a 200 day simple moving average of $291.56. The firm has a market capitalization of $222.27 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. McDonald’s has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. Equities analysts predict that McDonald’s will post 11.73 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.28%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock worth $2,150,857 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

A number of hedge funds have recently bought and sold shares of the stock. Riversedge Advisors LLC grew its position in McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after buying an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC grew its holdings in shares of McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares in the last quarter. Clear Creek Financial Management LLC increased its position in shares of McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the period. GDS Wealth Management raised its stake in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares in the last quarter. Finally, Boltwood Capital Management lifted its position in McDonald’s by 1.9% in the fourth quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock worth $546,000 after purchasing an additional 35 shares during the period. 70.29% of the stock is owned by institutional investors.

McDonald’s Company Profile

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, Russia, Spain, and the U.K.