McDonald's (NYSE:MCD) Sees Strong Trading Volume - Here's What Happened

McDonald's Co. (NYSE:MCD - Get Free Report) saw an uptick in trading volume on Tuesday . 2,362,548 shares were traded during trading, a decline of 32% from the previous session's volume of 3,485,934 shares.The stock last traded at $297.89 and had previously closed at $296.79.

Wall Street Analysts Forecast Growth

MCD has been the topic of several analyst reports. Barclays lifted their target price on McDonald's from $300.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Truist Financial boosted their price objective on shares of McDonald's from $295.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Guggenheim cut shares of McDonald's from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Baird R W lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Finally, Tigress Financial raised their price objective on shares of McDonald's from $355.00 to $360.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Thirteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $318.22.

McDonald's Trading Down 0.6 %

The firm has a 50 day moving average price of $297.97 and a two-hundred day moving average price of $275.16. The firm has a market capitalization of $211.64 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.62 billion. McDonald's had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald's's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.17 earnings per share. As a group, research analysts forecast that McDonald's Co. will post 11.73 earnings per share for the current year.

McDonald's Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald's's previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.40%. McDonald's's dividend payout ratio (DPR) is 61.94%.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company's stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now directly owns 11,484 shares in the company, valued at $3,428,777.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,256,818 over the last quarter. Company insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On McDonald's

Hedge funds have recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald's during the first quarter worth about $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald's in the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC increased its holdings in shares of McDonald's by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant's stock valued at $50,000 after acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of McDonald's in the 2nd quarter valued at approximately $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald's during the 2nd quarter valued at approximately $65,000. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Company Profile

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.