McDonald’s (NYSE:MCD) Price Target Increased to $322.00 by Analysts at Bank of America

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

Other equities analysts have also recently issued reports about the company. Tigress Financial boosted their target price on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Robert W. Baird upped their price objective 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. Guggenheim raised their target price on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Citigroup increased their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen lifted their price objective on McDonald’s from $280.00 to $300.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $318.22.

McDonald’s Stock Up 1.0 %

NYSE:MCD opened at $301.61 on Monday. The firm has a market capitalization of $217.36 billion, a P/E ratio of 25.60, a P/E/G ratio of 4.05 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 company has a fifty day moving average of $296.97 and a 200 day moving average of $274.51.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the company posted $3.17 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts anticipate that McDonald’s will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This is an increase 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 is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 60.10%.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were 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 owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,998 shares of company stock worth $9,935,493. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McDonald’s

Several hedge funds and other institutional investors have recently made changes to their positions in MCD. Annex Advisory Services LLC grew its position in shares of McDonald’s by 40.8% during the 1st quarter. Annex Advisory Services LLC now owns 2,894 shares of the fast-food giant’s stock valued at $816,000 after acquiring an additional 838 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in McDonald’s by 0.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 22,107 shares of the fast-food giant’s stock valued at $6,233,000 after purchasing an additional 72 shares during the period. Beech Hill Advisors Inc. increased its position in McDonald’s by 14.9% in the first quarter. Beech Hill Advisors Inc. now owns 7,705 shares of the fast-food giant’s stock worth $2,173,000 after buying an additional 1,000 shares in the last quarter. New England Professional Planning Group Inc. bought a new position in shares of McDonald’s in the first quarter worth about $225,000. Finally, DLK Investment Management LLC lifted its position in shares of McDonald’s by 4.3% during the 1st quarter. DLK Investment Management LLC now owns 14,152 shares of the fast-food giant’s stock valued at $3,990,000 after buying an additional 580 shares in the last quarter. Hedge funds and other 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.