McDonald’s (NYSE:MCD) PT Raised to $322.00 at Bank of America

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

A number of other research analysts also recently issued reports on the company. Loop Capital restated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Wedbush restated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Stifel Nicolaus decreased their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Robert W. Baird raised their price target on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Thirteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Price Performance

MCD opened at $301.61 on Monday. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company’s 50-day moving average is $296.97 and its 200 day moving average is $274.51. The firm has a market capitalization of $217.36 billion, a P/E ratio of 25.60, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for 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%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.17 EPS. On average, equities research analysts expect that McDonald’s will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.35%. 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 payout ratio is presently 60.10%.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated 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 owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,998 shares of company stock worth $9,935,493 in the last ninety days. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McDonald’s

Several hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in McDonald’s during the second quarter valued at approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares during the last quarter. BNP Paribas purchased a new stake in McDonald’s during the first quarter valued at about $7,898,000. Finally, First Long Island Investors LLC grew its stake in shares of McDonald’s by 16.6% during the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after buying an additional 7,707 shares during the last quarter. Institutional investors 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.