McDonald’s (NYSE:MCD) Given New $320.00 Price Target at Robert W. Baird

McDonald’s (NYSE:MCD) had its price objective boosted by Robert W. Baird from $280.00 to $320.00 in a research note released on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the fast-food giant’s stock.

Several other analysts also recently commented on the stock. Truist Financial decreased their price objective on shares of McDonald’s from $300.00 to $295.00 and set a buy rating on the stock in a research report on Tuesday, July 30th. Morgan Stanley decreased their price objective on shares of McDonald’s from $312.00 to $300.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. KeyCorp decreased their price objective on shares of McDonald’s from $310.00 to $305.00 and set an overweight rating on the stock in a research report on Tuesday, July 30th. Evercore ISI raised their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the company an outperform rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McDonald’s from $295.00 to $290.00 and set a buy rating on the stock in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $308.22.

McDonald’s Trading Up 0.0 %

MCD opened at $303.69 on Thursday. McDonald’s has a 1-year low of $243.53 and a 1-year high of $306.96. The company has a market capitalization of $218.86 billion, a PE ratio of 25.78, a PEG ratio of 3.99 and a beta of 0.72. The firm’s 50 day simple moving average is $281.71 and its two-hundred day simple moving average is $271.02.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the business posted $3.17 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Equities analysts forecast that McDonald’s will post 11.69 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 2.33%. This is an increase 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 56.71%.

Insider Activity at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,249 shares of company stock worth $9,865,866. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Hedge funds have recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the 1st quarter worth approximately $28,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s in the 4th quarter worth approximately $38,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the 2nd quarter worth approximately $38,000. Accent Capital Management LLC purchased a new stake in shares of McDonald’s in the 4th quarter worth approximately $44,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of McDonald’s in the 4th quarter worth approximately $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.