Brokerages Set McDonald’s Co. (NYSE:MCD) Price Target at $319.46

Shares of McDonald’s Co. (NYSE:MCD) have been given an average rating of “Moderate Buy” by the thirty ratings firms that are presently covering the company, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $319.46.

A number of equities analysts have commented on MCD shares. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI lifted their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Jefferies Financial Group upped their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. The Goldman Sachs Group lifted their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred 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 approximately $446,721.60. The trade was a 48.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McDonald’s

Several institutional investors have recently bought and sold shares of MCD. Legal & General Group Plc lifted its holdings in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares during the last quarter. Capital Research Global Investors increased its position in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares in the last quarter. Ameriprise Financial Inc. raised its stake in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after buying an additional 354,196 shares during the last quarter. Finally, 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 worth $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

NYSE MCD opened at $298.56 on Tuesday. McDonald’s has a 1-year low of $243.53 and a 1-year high of $317.90. The business has a 50 day simple moving average of $299.79 and a two-hundred day simple moving average of $277.14. The stock has a market capitalization of $213.95 billion, a PE ratio of 26.24, a P/E/G ratio of 3.97 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the firm posted $3.19 earnings per share. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts anticipate that McDonald’s will post 11.77 EPS for the current fiscal 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 issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.37%. 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. McDonald’s’s dividend payout ratio is presently 58.65%.

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.