McDonald’s (NYSE:MCD – Free Report) had its price target raised by BMO Capital Markets from $315.00 to $335.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the fast-food giant’s stock.
Several other equities analysts also recently commented on the company. Tigress Financial boosted their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group boosted their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. KeyCorp upped their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company increased their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.46.
Get Our Latest Report on McDonald’s
McDonald’s Trading Up 1.1 %
McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business posted $3.19 EPS. McDonald’s’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that McDonald’s will post 11.78 EPS for the current fiscal year.
McDonald’s Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend 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 dividend payout ratio (DPR) is 58.65%.
Insider Activity at McDonald’s
In related news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. 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 available at the SEC website. In related news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock worth $10,256,818 in the last three months. Company insiders own 0.23% of the company’s stock.
Institutional Trading of McDonald’s
A number of hedge funds and other institutional investors have recently modified their holdings of MCD. Legal & General Group Plc raised its position in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after buying an additional 188,888 shares during the period. Capital Research Global Investors boosted its holdings in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Ameriprise Financial Inc. lifted its holdings in McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares in the last quarter. Capital World Investors raised its position in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares in the last quarter. 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.
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