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

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

Several other analysts also recently weighed in on MCD. Erste Group Bank upgraded shares of McDonald's from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Barclays upped their price objective on shares of McDonald's from $347.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Wedbush boosted their target price on McDonald's from $320.00 to $330.00 and gave the company an "outperform" rating in a report 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, Robert W. Baird raised their price target on McDonald's from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $323.30.

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McDonald's Price Performance

Shares of MCD traded down $18.59 during midday trading on Thursday, reaching $299.68. The stock had a trading volume of 8,828,016 shares, compared to its average volume of 3,539,121. The company has a market cap of $214.11 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.10 and a beta of 0.62. The company's fifty day simple moving average is $304.34 and its two-hundred day simple moving average is $298.72. McDonald's has a 1-year low of $243.53 and a 1-year high of $326.32.

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

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.36%. McDonald's's dividend payout ratio is presently 62.16%.

Insider Buying and Selling at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now owns 7,887 shares of the company's stock, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares of the company's stock, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,497 shares of company stock worth $8,461,400 in the last ninety days. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MCD. Northeast Financial Consultants Inc lifted its holdings in McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after acquiring an additional 34 shares during the last quarter. Boltwood Capital Management raised its position in shares of McDonald's by 1.9% during the 4th quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant's stock worth $546,000 after purchasing an additional 35 shares during the period. Pettee Investors Inc. lifted its holdings in shares of McDonald's by 0.7% in the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant's stock worth $1,566,000 after purchasing an additional 35 shares during the last quarter. Covestor Ltd boosted its position in McDonald's by 4.1% during the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant's stock valued at $261,000 after purchasing an additional 35 shares during the period. Finally, Modus Advisors LLC grew its stake in McDonald's by 0.4% during the 4th quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant's stock worth $2,724,000 after buying an additional 36 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

About McDonald's

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.