McDonald’s (NYSE:MCD) Price Target Raised to $350.00

McDonald’s (NYSE:MCD) had its price objective boosted by Wells Fargo & Company from $285.00 to $350.00 in a report released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the fast-food giant’s stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus cut their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Evercore ISI increased their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. The Goldman Sachs Group boosted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, Tigress Financial raised their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Twelve research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $318.22.

McDonald’s Price Performance

MCD opened at $298.75 on Monday. The firm has a fifty day moving average price of $296.97 and a 200 day moving average price of $274.51. McDonald’s has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market cap of $215.30 billion, a P/E ratio of 25.36, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the company posted $3.17 EPS. The company’s revenue was down .1% on a year-over-year basis. Equities analysts expect that McDonald’s will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.37%. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,998 shares of company stock valued at $9,935,493 in the last quarter. Insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares during the period. Capital Research Global Investors increased its position in shares of McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Swedbank AB acquired a new stake in shares of McDonald’s in the first quarter valued at $348,206,000. Capital World Investors boosted its holdings in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares during the period. Finally, Mondrian Investment Partners LTD acquired a new position in McDonald’s during the 2nd quarter worth $110,321,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.