McDonald’s (NYSE:MCD) PT Raised to $350.00

McDonald’s (NYSE:MCD) had its price objective increased by Wells Fargo & Company from $285.00 to $350.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the fast-food giant’s stock.

Several other equities research analysts have also recently weighed in on MCD. BMO Capital Markets cut their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Robert W. Baird upped their price target on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Wedbush reissued an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Citigroup lifted their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Thirteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $318.22.

McDonald’s Trading Up 1.0 %

Shares of MCD opened at $301.61 on Monday. The stock has a market capitalization of $217.36 billion, a PE ratio of 25.60, a P/E/G ratio of 4.05 and a beta of 0.73. The firm’s 50 day moving average is $296.97 and its 200-day moving average is $274.51. McDonald’s has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.17 earnings per share. Equities research analysts predict that McDonald’s will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,998 shares of company stock valued at $9,935,493 over the last quarter. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the 1st quarter valued at $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the second quarter valued at about $38,000. Keener Financial Planning LLC increased its position in shares of McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s in the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s in the 2nd quarter valued at about $65,000. 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.