Truist Financial Issues Positive Forecast for McDonald's (NYSE:MCD) Stock Price

McDonald's (NYSE:MCD - Free Report) had its price objective lifted by Truist Financial from $350.00 to $356.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the fast-food giant's stock.

A number of other research analysts have also recently commented on the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $345.00 target price (up previously from $340.00) on shares of McDonald's in a research note on Monday, May 5th. BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Robert W. Baird upped their target price on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. KeyCorp cut their target price on McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Finally, Redburn Atlantic reissued a "sell" rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $322.29.

McDonald's Stock Performance

MCD stock traded up $5.58 during midday trading on Wednesday, reaching $298.60. 5,364,588 shares of the company traded hands, compared to its average volume of 3,536,694. McDonald's has a 52-week low of $246.12 and a 52-week high of $326.32. The business has a 50 day moving average of $304.35 and a 200-day moving average of $302.44. The firm has a market capitalization of $213.51 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 3.06 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts' consensus estimates of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The company's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.70 earnings per share. Research analysts anticipate that McDonald's will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. McDonald's's dividend payout ratio is presently 62.49%.

Insider Buying and Selling at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the sale, the insider owned 10,222 shares in the company, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares of the company's stock, valued at approximately $2,657,400. This represents a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,817 shares of company stock valued at $1,165,843. Company insiders own 0.25% of the company's stock.

Institutional Trading of McDonald's

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nova Wealth Management Inc. purchased a new stake in shares of McDonald's during the 1st quarter valued at $26,000. HFM Investment Advisors LLC purchased a new position in McDonald's in the 1st quarter worth $26,000. Mascagni Wealth Management Inc. purchased a new position in McDonald's in the 4th quarter worth $25,000. Atala Financial Inc purchased a new position in McDonald's in the 4th quarter worth $26,000. Finally, Abound Financial LLC purchased a new position in McDonald's in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Company Profile

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.