KeyCorp Trims McDonald’s (NYSE:MCD) Target Price to $310.00

McDonald’s (NYSE:MCD) had its target price lowered by KeyCorp from $315.00 to $310.00 in a research note issued to investors on Wednesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the fast-food giant’s stock.

Several other equities analysts also recently commented on the company. Robert W. Baird dropped their target price on McDonald’s from $305.00 to $300.00 and set an outperform rating for the company in a research report on Wednesday. TD Cowen restated a buy rating and set a $305.00 price objective on shares of McDonald’s in a research report on Tuesday. Stephens restated an overweight rating and set a $320.00 price objective on shares of McDonald’s in a research report on Monday, February 5th. UBS Group lowered their price objective on McDonald’s from $340.00 to $335.00 and set a buy rating for the company in a research report on Friday, April 5th. Finally, StockNews.com downgraded McDonald’s from a buy rating to a hold rating in a research report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $317.74.

McDonald’s Trading Down 1.1 %

McDonald’s stock opened at $270.32 on Wednesday. The company has a market capitalization of $194.90 billion, a PE ratio of 22.95, a P/E/G ratio of 2.95 and a beta of 0.71. McDonald’s has a 12 month low of $245.73 and a 12 month high of $302.39. The stock has a 50-day moving average price of $280.07 and a two-hundred day moving average price of $282.21.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.63 earnings per share. As a group, analysts predict that McDonald’s will post 12.18 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $1.67 per share. The ex-dividend date was Thursday, February 29th. This represents a $6.68 annualized dividend and a dividend yield of 2.47%. McDonald’s’s payout ratio is 56.71%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the sale, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Institutional Trading of McDonald’s

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s during the first quarter worth about $28,000. Signature Resources Capital Management LLC purchased a new position in McDonald’s during the fourth quarter worth about $31,000. Blue Bell Private Wealth Management LLC grew its position in McDonald’s by 51.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after buying an additional 42 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in McDonald’s during the third quarter worth about $33,000. Finally, Clear Investment Research LLC purchased a new position in McDonald’s during the fourth quarter worth about $38,000. 70.29% of the stock is currently owned by 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.