McDonald’s (NYSE:MCD) Trading Down 0%

McDonald’s Co. (NYSE:MCD)’s stock price dropped 0% on Wednesday . The stock traded as low as $292.50 and last traded at $293.74. Approximately 221,333 shares were traded during trading, a decline of 94% from the average daily volume of 3,455,746 shares. The stock had previously closed at $293.75.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MCD. Jefferies Financial Group upped their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Tigress Financial upped their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley dropped their target price on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Barclays decreased their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $306.11.

McDonald’s Price Performance

The firm has a 50 day simple moving average of $274.83 and a 200-day simple moving average of $270.53. The company has a market cap of $211.59 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last released 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 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the firm posted $3.17 earnings per share. McDonald’s’s revenue was down .1% on a year-over-year basis. Research analysts anticipate that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.28%. McDonald’s’s payout ratio is presently 56.71%.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’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 transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The disclosure for this sale can be found here. In the last three months, insiders sold 6,291 shares of company stock valued at $1,689,073. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

A number of large investors have recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the 1st quarter valued at approximately $28,000. Clear Investment Research LLC acquired a new position in McDonald’s during the fourth quarter valued at approximately $38,000. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter valued at approximately $38,000. Accent Capital Management LLC bought a new position in shares of McDonald’s during the fourth quarter worth $44,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $45,000. Institutional investors and hedge funds 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.