McDonald’s (NYSE:MCD) Price Target Lowered to $280.00 at Guggenheim

McDonald’s (NYSE:MCD) had its price objective lowered by Guggenheim from $315.00 to $280.00 in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the fast-food giant’s stock.

MCD has been the subject of a number of other reports. Bank of America decreased their price target on McDonald’s from $302.00 to $288.00 and set a neutral rating for the company in a research note on Tuesday, May 28th. Stifel Nicolaus lowered their target price on shares of McDonald’s from $315.00 to $300.00 and set a hold rating for the company in a research note on Thursday, April 11th. Robert W. Baird cut their price target on shares of McDonald’s from $305.00 to $300.00 and set an outperform rating on the stock in a research note on Wednesday, May 1st. Erste Group Bank reiterated a hold rating on shares of McDonald’s in a research note on Wednesday, April 3rd. Finally, Wedbush cut their target price on McDonald’s from $330.00 to $300.00 and set an outperform rating on the stock in a research report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $313.89.

McDonald’s Stock Down 0.9 %

NYSE MCD opened at $247.79 on Tuesday. McDonald’s has a 52 week low of $245.73 and a 52 week high of $302.39. The company has a 50 day moving average price of $262.80 and a 200 day moving average price of $278.79. The firm has a market cap of $178.58 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the prior year, the firm posted $2.63 earnings per share. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that McDonald’s will post 12.19 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.70%. McDonald’s’s payout ratio is 56.71%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the sale, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the 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 transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. Insiders sold 4,095 shares of company stock worth $1,100,625 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McDonald’s

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in McDonald’s in the 4th quarter valued at $2,684,899,000. Gallagher Fiduciary Advisors LLC grew its holdings in shares of McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. Capital Research Global Investors increased its position in McDonald’s by 66.9% during the first 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 during the last quarter. International Assets Investment Management LLC raised its stake in McDonald’s by 10,702.5% during the fourth quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock worth $644,739,000 after purchasing an additional 2,154,297 shares during the period. Finally, Swedbank AB acquired a new position in McDonald’s in the 1st quarter valued at about $348,206,000. 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.