McDonald’s (NYSE:MCD) Given New $370.00 Price Target at BTIG Research

McDonald’s (NYSE:MCDFree Report) had its price target raised by BTIG Research from $360.00 to $370.00 in a research report sent to investors on Thursday morning, Marketbeat reports. BTIG Research currently has a buy rating on the fast-food giant’s stock.

A number of other equities research analysts also recently weighed in on the company. Citigroup raised their target price on McDonald’s from $371.00 to $375.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a report on Wednesday, January 28th. Robert W. Baird lifted their price target on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Sanford C. Bernstein reaffirmed an “overweight” rating and issued a $372.00 price objective on shares of McDonald’s in a research note on Wednesday, January 7th. Finally, Mizuho lifted their target price on McDonald’s from $300.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Fourteen research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Hold” and a consensus price target of $335.63.

Check Out Our Latest Stock Report on MCD

McDonald’s Trading Up 2.7%

Shares of MCD stock opened at $331.78 on Thursday. The stock has a market cap of $236.28 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 3.26 and a beta of 0.52. McDonald’s has a 1 year low of $283.47 and a 1 year high of $333.38. The stock has a 50 day simple moving average of $312.69 and a 200 day simple moving average of $308.07.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The fast-food giant reported $3.12 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.07. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.81 billion. McDonald’s had a negative return on equity of 313.07% and a net margin of 31.85%.The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $2.83 EPS. Analysts forecast that McDonald’s will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd will be issued a $1.86 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $7.44 annualized dividend and a yield of 2.2%. McDonald’s’s dividend payout ratio is presently 63.48%.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,486 shares of McDonald’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total transaction of $795,520.00. Following the completion of the transaction, the executive vice president owned 6,268 shares in the company, valued at approximately $2,005,760. The trade was a 28.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $305.50, for a total value of $2,006,218.50. Following the completion of the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. This trade represents a 58.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 31,439 shares of company stock valued at $9,772,464 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Decker Retirement Planning Inc. boosted its position in McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth approximately $25,000. Evergreen Private Wealth LLC lifted its stake in McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after purchasing an additional 52 shares during the last quarter. Your Advocates Ltd. LLP purchased a new stake in McDonald’s in the fourth quarter worth $27,000. Finally, Park Place Capital Corp raised its position in shares of McDonald’s by 95.7% in the fourth quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock valued at $28,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s News Roundup

Here are the key news stories impacting McDonald’s this week:

About McDonald’s

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McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

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Analyst Recommendations for McDonald's (NYSE:MCD)

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