McDonald’s (NYSE:MCD) Stock Price Down 0.4%

McDonald’s Co. (NYSE:MCD)’s share price was down 0.4% during trading on Wednesday . The company traded as low as $268.50 and last traded at $269.26. Approximately 466,476 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 3,565,740 shares. The stock had previously closed at $270.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MCD shares. TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the company from $285.00 to $280.00 in a research note on Wednesday, July 31st. Jefferies Financial Group cut their target price on McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Guggenheim lifted their target price on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird cut their target price on McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Morgan Stanley cut their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $303.00.

McDonald’s Price Performance

The stock has a market capitalization of $195.59 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The company has a 50 day simple moving average of $257.76 and a 200-day simple moving average of $271.26.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.17 earnings per share. As a group, equities analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.46%. McDonald’s’s payout ratio is 56.71%.

Insider Activity at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,794 shares of company stock worth $1,234,491. 0.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On McDonald’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCD. Concentric Wealth Management LLC increased its holdings in shares of McDonald’s by 1.4% in 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 during the last quarter. Mechanics Financial Corp increased its holdings in shares of McDonald’s by 0.7% in 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 during the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of McDonald’s by 2.9% in 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 during the last quarter. 9258 Wealth Management LLC increased its holdings in shares of McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after purchasing an additional 37 shares during the last quarter. Finally, ICW Investment Advisors LLC increased its holdings in shares of McDonald’s by 0.4% in the fourth quarter. ICW Investment Advisors LLC now owns 9,548 shares of the fast-food giant’s stock worth $2,831,000 after purchasing an additional 38 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.