Citigroup Increases McDonald’s (NYSE:MCD) Price Target to $301.00

McDonald’s (NYSE:MCD) had its price objective upped by Citigroup from $275.00 to $301.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the fast-food giant’s stock.

A number of other equities research analysts have also recently weighed in on MCD. Guggenheim lifted their price objective on McDonald’s from $280.00 to $290.00 and gave the company a buy rating in a research note on Friday, August 2nd. Bank of America decreased their price objective on shares of McDonald’s from $288.00 to $278.00 and set a neutral rating for the company in a research report on Tuesday, July 30th. KeyCorp dropped their price target on shares of McDonald’s from $310.00 to $305.00 and set an overweight rating on the stock in a research note on Tuesday, July 30th. Jefferies Financial Group raised their price objective on McDonald’s from $310.00 to $330.00 and gave the stock a buy rating in a report on Monday, September 9th. Finally, Stifel Nicolaus cut their target price on shares of McDonald’s from $285.00 to $265.00 and set a hold rating on the stock in a report on Monday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $306.11.

McDonald’s Stock Up 0.0 %

MCD stock opened at $296.66 on Friday. McDonald’s has a 52 week low of $243.53 and a 52 week high of $302.39. The firm has a 50-day simple moving average of $273.87 and a 200-day simple moving average of $270.50. The stock has a market capitalization of $213.80 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS 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%. During the same period in the prior year, the business posted $3.17 EPS. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts expect that McDonald’s will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is currently 56.71%.

Insider Buying and Selling

In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,291 shares of company stock worth $1,689,073. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the first quarter worth approximately $28,000. Clear Investment Research LLC acquired a new position in McDonald’s in the 4th quarter worth about $38,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the 2nd quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC bought a new stake in McDonald’s in the fourth quarter worth approximately $39,000. Finally, Accent Capital Management LLC acquired a new position in McDonald’s during the fourth quarter worth $44,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Company Profile

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.