McDonald’s (NYSE:MCD) Price Target Raised to $335.00

McDonald’s (NYSE:MCD) had its target price lifted by BMO Capital Markets from $315.00 to $335.00 in a research report sent to investors on Wednesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the fast-food giant’s stock.

Other equities analysts have also issued reports about the stock. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Tigress Financial raised their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Finally, UBS Group lifted their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Performance

Shares of MCD stock opened at $295.24 on Wednesday. The stock has a market cap of $211.79 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 3.85 and a beta of 0.73. McDonald’s has a 52-week low of $243.53 and a 52-week high of $317.90. The firm has a fifty day moving average of $298.36 and a 200-day moving average of $275.78.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 EPS. On average, sell-side analysts predict that McDonald’s will post 11.78 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.40%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is presently 58.65%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. 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 accessible through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s 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 transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,097 shares of company stock valued at $10,256,818. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Several large investors have recently bought and sold shares of MCD. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at $38,000. Hara Capital LLC bought a new stake in McDonald’s in the 3rd quarter worth approximately $44,000. Keener Financial Planning LLC boosted its stake in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in McDonald’s during the second quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s in the second quarter worth approximately $65,000. 70.29% of the stock is currently owned by institutional investors.

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.