McDonald’s (NYSE:MCD) Stock Price Up 0.3% Following Analyst Upgrade

McDonald’s Co. (NYSE:MCD)’s stock price traded up 0.3% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $270.00 to $290.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. McDonald’s traded as high as $300.11 and last traded at $297.28. 614,537 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,463,561 shares. The stock had previously closed at $296.53.

MCD has been the subject of several other reports. Morgan Stanley cut their price objective on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Jefferies Financial Group boosted their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Guggenheim raised their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America decreased their target price 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. Finally, Truist Financial reduced their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $306.11.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock valued at $1,689,073 in the last ninety days. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the 1st quarter valued at about $28,000. Clear Investment Research LLC acquired a new stake in McDonald’s in the fourth quarter worth $38,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the second quarter worth $38,000. Accent Capital Management LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $44,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at $45,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.0 %

The firm has a market cap of $213.80 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 3.88 and a beta of 0.72. The company has a 50 day moving average of $273.87 and a 200 day moving average of $270.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) 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 analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.17 earnings per share. Equities analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

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

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.