McDonald’s (NYSE:MCD) Price Target Raised to $322.00

McDonald’s (NYSE:MCD) had its price objective upped by Bank of America from $308.00 to $322.00 in a research report released on Monday, Benzinga reports. Bank of America currently has a neutral rating on the fast-food giant’s stock.

A number of other equities analysts also recently weighed in on MCD. Tigress Financial boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group upped their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. BMO Capital Markets cut their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, Citigroup increased their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Stock Performance

Shares of MCD opened at $298.75 on Monday. McDonald’s has a twelve month low of $243.53 and a twelve month high of $317.90. The firm’s 50 day moving average price is $296.97 and its two-hundred day moving average price is $274.51. The firm has a market cap of $215.30 billion, a P/E ratio of 25.36, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.17 EPS. On average, sell-side analysts anticipate that McDonald’s will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 60.10%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,998 shares of company stock worth $9,935,493. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McDonald’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Annex Advisory Services LLC increased its position in shares of McDonald’s by 40.8% during the first quarter. Annex Advisory Services LLC now owns 2,894 shares of the fast-food giant’s stock valued at $816,000 after buying an additional 838 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in McDonald’s by 0.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 22,107 shares of the fast-food giant’s stock worth $6,233,000 after buying an additional 72 shares in the last quarter. Beech Hill Advisors Inc. boosted its stake in shares of McDonald’s by 14.9% during the first quarter. Beech Hill Advisors Inc. now owns 7,705 shares of the fast-food giant’s stock valued at $2,173,000 after purchasing an additional 1,000 shares during the period. New England Professional Planning Group Inc. purchased a new stake in McDonald’s in the first quarter worth $225,000. Finally, DLK Investment Management LLC raised its holdings in McDonald’s by 4.3% in the first quarter. DLK Investment Management LLC now owns 14,152 shares of the fast-food giant’s stock worth $3,990,000 after purchasing an additional 580 shares in the last quarter. 70.29% of the stock is currently owned by 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.