McDonald’s (NYSE:MCD) Price Target Raised to $360.00

McDonald’s (NYSE:MCD) had its price objective lifted by BMO Capital Markets from $350.00 to $360.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the fast-food giant’s stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Guggenheim reaffirmed a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research note on Thursday, July 10th. TD Cowen lifted their price target on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Finally, Melius started coverage on shares of McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $325.35.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $314.30 on Thursday. McDonald’s has a 1 year low of $276.53 and a 1 year high of $326.32. The business has a 50 day simple moving average of $303.87 and a two-hundred day simple moving average of $306.48. The firm has a market capitalization of $224.28 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 3.20 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.97 earnings per share. Equities research analysts expect that McDonald’s will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,341 shares of company stock valued at $2,544,327 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthPlan Investment Management LLC raised its holdings in shares of McDonald’s by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after buying an additional 32 shares during the last quarter. Granite Bay Wealth Management LLC raised its holdings in shares of McDonald’s by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after buying an additional 33 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of McDonald’s by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock worth $560,000 after buying an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC raised its holdings in shares of McDonald’s by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock worth $417,000 after buying an additional 33 shares during the last quarter. Finally, Security Financial Services INC. raised its holdings in shares of McDonald’s by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.