Citigroup Lowers McDonald's (NYSE:MCD) Price Target to $353.00

McDonald's (NYSE:MCD - Free Report) had its price target trimmed by Citigroup from $360.00 to $353.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the fast-food giant's stock.

Several other research analysts also recently weighed in on MCD. Piper Sandler cut their price target on McDonald's from $297.00 to $290.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Robert W. Baird lifted their target price on shares of McDonald's from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on shares of McDonald's from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Morgan Stanley reduced their target price on McDonald's from $340.00 to $335.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Finally, KeyCorp lifted their price target on McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McDonald's has an average rating of "Moderate Buy" and an average price target of $323.30.

McDonald's Price Performance

Shares of McDonald's stock traded down $18.59 during trading hours on Thursday, hitting $299.68. 8,828,016 shares of the company's stock traded hands, compared to its average volume of 3,526,008. The company has a fifty day simple moving average of $304.34 and a 200-day simple moving average of $298.75. The stock has a market capitalization of $214.11 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.10 and a beta of 0.62. McDonald's has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts' consensus estimates of $2.83. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. On average, analysts forecast that McDonald's will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald's's payout ratio is 62.16%.

Insider Transactions at McDonald's

In related news, EVP Tiffanie L. Boyd sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the sale, the executive vice president now owns 5,564 shares of the company's stock, valued at $1,720,778.28. This trade represents a 15.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of McDonald's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares of the company's stock, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,497 shares of company stock worth $8,461,400. Company insiders own 0.23% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MCD. Legacy Investment Solutions LLC purchased a new position in McDonald's during the third quarter valued at approximately $25,000. Mascagni Wealth Management Inc. purchased a new position in shares of McDonald's during the 4th quarter valued at approximately $25,000. Atala Financial Inc acquired a new position in shares of McDonald's in the 4th quarter valued at $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald's during the fourth quarter worth $27,000. Finally, Collier Financial acquired a new stake in McDonald's during the fourth quarter valued at $29,000. 70.29% of the stock is currently owned by institutional investors.

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.