McDonald’s (NYSE:MCD) Price Target Raised to $325.00 at The Goldman Sachs Group

McDonald’s (NYSE:MCD) had its price objective lifted by The Goldman Sachs Group from $284.00 to $325.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the fast-food giant’s stock.

MCD has been the subject of a number of other reports. TD Cowen reissued a hold rating and set a $280.00 price objective on shares of McDonald’s in a report on Monday. Truist Financial decreased their price objective on McDonald’s from $300.00 to $295.00 and set a buy rating for the company in a report on Tuesday, July 30th. Wedbush reissued an outperform rating and set a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. BMO Capital Markets decreased their price objective on McDonald’s from $330.00 to $315.00 and set an outperform rating for the company in a report on Tuesday, July 30th. Finally, Bank of America decreased their price objective on McDonald’s from $288.00 to $278.00 and set a neutral rating for the company in a report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, McDonald’s presently has an average rating of Moderate Buy and a consensus price target of $308.22.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $303.65 on Tuesday. McDonald’s has a one year low of $243.53 and a one year high of $304.29. The firm has a market capitalization of $217.82 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.99 and a beta of 0.72. The business has a 50-day simple moving average of $279.90 and a 200 day simple moving average of $270.89.

McDonald’s (NYSE:MCD) last issued its earnings results 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). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the firm earned $3.17 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts expect that McDonald’s will post 11.69 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.20%. McDonald’s’s payout ratio is 56.71%.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Ian Frederick Borden sold 5,939 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total value of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares in the company, valued at $6,121,716.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 23,958 shares of company stock worth $7,032,111 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Institutional investors and hedge funds have recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the first quarter worth $28,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s in the fourth quarter worth $38,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the second quarter worth $38,000. Accent Capital Management LLC purchased a new stake in shares of McDonald’s in the fourth quarter worth $44,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of McDonald’s in the fourth quarter worth $45,000. Hedge funds and other institutional investors 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.