McDonald’s (NYSE:MCD) PT Raised to $320.00

McDonald’s (NYSE:MCD) had its price objective boosted by Evercore ISI from $300.00 to $320.00 in a research note issued to investors on Monday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the fast-food giant’s stock.

Several other equities research analysts have also recently issued reports on the stock. TD Cowen cut shares of McDonald’s from a buy rating to a hold rating and decreased their target price for the stock from $285.00 to $280.00 in a research report on Wednesday, July 31st. Truist Financial cut their price target on shares of McDonald’s from $300.00 to $295.00 and set a buy rating on the stock in a report on Tuesday, July 30th. Stifel Nicolaus cut their price target on shares of McDonald’s from $285.00 to $265.00 and set a hold rating on the stock in a report on Monday, July 22nd. KeyCorp cut their price target on shares of McDonald’s from $310.00 to $305.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Finally, Wedbush restated an outperform rating and issued a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $303.71.

McDonald’s Stock Performance

MCD opened at $289.76 on Monday. The company’s 50 day simple moving average is $260.72 and its 200 day simple moving average is $270.85. McDonald’s has a 1 year low of $243.53 and a 1 year high of $302.39. The stock has a market capitalization of $208.82 billion, a PE ratio of 24.60, a P/E/G ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its earnings results 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). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business posted $3.17 earnings per share. McDonald’s’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts expect that McDonald’s will post 11.71 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,695 shares of company stock worth $943,113. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently modified their holdings of the company. Roffman Miller Associates Inc. PA boosted its holdings in shares of 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 acquiring an additional 2,546 shares during the period. Aigen Investment Management LP acquired a new position in shares of McDonald’s during the fourth quarter valued at $4,286,000. Strait & Sound Wealth Management LLC acquired a new position in shares of McDonald’s during the fourth quarter valued at $211,000. Choreo LLC boosted its holdings in shares of McDonald’s by 22.0% during the fourth quarter. Choreo LLC now owns 23,244 shares of the fast-food giant’s stock valued at $6,892,000 after acquiring an additional 4,190 shares during the period. Finally, Vestor Capital LLC lifted its holdings in McDonald’s by 40.4% in the fourth quarter. Vestor Capital LLC now owns 74,427 shares of the fast-food giant’s stock worth $22,068,000 after purchasing an additional 21,413 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

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.