McDonald’s (NYSE:MCD) Price Target Raised to $320.00

McDonald’s (NYSE:MCD) had its price target lifted by Robert W. Baird from $280.00 to $320.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the fast-food giant’s stock.

Several other research firms also recently weighed in on MCD. Stifel Nicolaus lowered their price target on shares of McDonald’s from $285.00 to $265.00 and set a hold rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an overweight rating in a research note on Monday, September 16th. The Goldman Sachs Group upped their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a neutral rating in a research note on Tuesday, September 24th. Guggenheim upped their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the company a buy rating in a research note on Friday, August 2nd. Finally, Loop Capital reaffirmed a buy rating and set a $342.00 price objective on shares of McDonald’s in a research note on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $308.22.

McDonald’s Stock Up 0.0 %

McDonald’s stock opened at $303.69 on Thursday. The company has a market capitalization of $218.86 billion, a PE ratio of 25.78, a P/E/G ratio of 3.99 and a beta of 0.72. The firm has a fifty day simple moving average of $281.71 and a two-hundred day simple moving average of $271.02. McDonald’s has a twelve month low of $243.53 and a twelve month high of $306.96.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.17 earnings per share. As a group, equities analysts expect that McDonald’s will post 11.69 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 56.71%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,249 shares of company stock worth $9,865,866. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Concentric Wealth Management LLC lifted its position in McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the period. FinTrust Capital Advisors LLC lifted its position in McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the period. Founders Financial Alliance LLC lifted its position in McDonald’s by 0.7% during the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after purchasing an additional 36 shares during the period. 9258 Wealth Management LLC lifted its position in McDonald’s by 1.3% during the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares during the period. Finally, Weatherly Asset Management L. P. lifted its position in McDonald’s by 0.9% during the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after purchasing an additional 38 shares during the period. 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.