McDonald’s (NYSE:MCD) PT Lowered to $297.00 at Citigroup

McDonald’s (NYSE:MCD) had its price target decreased by Citigroup from $312.00 to $297.00 in a research note published on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the fast-food giant’s stock.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada dropped their price objective on McDonald’s from $340.00 to $335.00 and set an outperform rating on the stock in a research note on Tuesday, February 6th. Barclays lowered their target price on McDonald’s from $343.00 to $340.00 and set an overweight rating on the stock in a research note on Tuesday, February 6th. TD Cowen reiterated a buy rating and set a $325.00 target price on shares of McDonald’s in a research note on Wednesday, April 10th. Bank of America lifted their target price on McDonald’s from $291.00 to $341.00 and gave the stock a neutral rating in a research note on Monday, January 29th. Finally, Stephens reiterated an overweight rating and set a $320.00 target price on shares of McDonald’s in a research note on Monday, February 5th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $319.72.

McDonald’s Trading Down 0.3 %

NYSE MCD opened at $265.37 on Tuesday. The company has a fifty day simple moving average of $284.21 and a 200 day simple moving average of $280.76. McDonald’s has a 12-month low of $245.73 and a 12-month high of $302.39. The company has a market cap of $191.33 billion, a P/E ratio of 22.94, a PEG ratio of 2.89 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the business earned $2.59 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that McDonald’s will post 12.35 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, February 29th. McDonald’s’s payout ratio is presently 57.74%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the transaction, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Independent Wealth Network Inc. grew its holdings in shares of McDonald’s by 4.2% during the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after purchasing an additional 35 shares in the last quarter. Concentric Wealth Management LLC grew its holdings in shares of McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after purchasing an additional 35 shares in the last quarter. Paragon Capital Management Ltd grew its holdings in shares of McDonald’s by 2.7% during the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock worth $407,000 after purchasing an additional 36 shares in the last quarter. Mechanics Financial Corp grew its holdings in shares of McDonald’s by 0.7% during the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock worth $1,581,000 after purchasing an additional 36 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

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.