McDonald's (NYSE:MCD) Shares Down 0.8%

McDonald's Co. (NYSE:MCD - Get Free Report)'s stock price dropped 0.8% on Wednesday . The stock traded as low as $254.68 and last traded at $255.31. Approximately 469,249 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,372,245 shares. The stock had previously closed at $257.38.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCD. Truist Financial dropped their price target on shares of McDonald's from $337.00 to $320.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. BMO Capital Markets decreased their price objective on McDonald's from $335.00 to $330.00 and set an "outperform" rating on the stock in a report on Wednesday, May 1st. Guggenheim reduced their price target on McDonald's from $325.00 to $315.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Robert W. Baird reduced their price target on McDonald's from $305.00 to $300.00 and set an "outperform" rating on the stock in a report on Wednesday, May 1st. Finally, Argus reiterated a "hold" rating on shares of McDonald's in a report on Monday, March 25th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $315.14.

McDonald's Price Performance

The firm has a market cap of $185.81 billion, a PE ratio of 21.89, a PEG ratio of 2.90 and a beta of 0.71. The company has a 50 day moving average price of $264.15 and a 200 day moving average price of $279.82.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share 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 analyst estimates of $6.16 billion. McDonald's had a net margin of 33.36% and a negative return on equity of 180.74%. The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.63 earnings per share. On average, equities analysts anticipate that McDonald's Co. will post 12.19 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.59%. McDonald's's dividend payout ratio is currently 56.71%.

Insider Activity at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 1,098 shares of the business'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 completion of the transaction, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company's stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the sale, the insider now owns 15,878 shares in the company, valued at $4,209,734.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the company's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company's stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders sold 4,095 shares of company stock worth $1,100,625 in the last 90 days. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McDonald's

A number of institutional investors and hedge funds have recently modified their holdings of MCD. Roffman Miller Associates Inc. PA raised its position in McDonald's by 1.7% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant's stock valued at $46,179,000 after buying an additional 2,546 shares during the period. Shulman DeMeo Asset Management LLC raised its position in McDonald's by 12.2% during the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant's stock valued at $312,000 after buying an additional 114 shares during the period. Aigen Investment Management LP acquired a new position in McDonald's during the fourth quarter valued at $4,286,000. Strait & Sound Wealth Management LLC acquired a new position in McDonald's during the fourth quarter valued at $211,000. Finally, First National Bank of Mount Dora Trust Investment Services raised its position in McDonald's by 2.8% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant's stock valued at $3,269,000 after buying an additional 301 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

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.