Truist Financial Increases McDonald’s (NYSE:MCD) Price Target to $350.00

McDonald’s (NYSE:MCD) had its target price lifted by Truist Financial from $295.00 to $350.00 in a research note released on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the fast-food giant’s stock.

Other equities analysts have also issued reports about the company. Tigress Financial boosted their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America dropped their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Stifel Nicolaus reduced their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. BMO Capital Markets decreased their price target on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, Barclays cut their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Stock Up 0.6 %

Shares of NYSE MCD opened at $316.53 on Tuesday. The company has a market capitalization of $228.12 billion, a PE ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald’s has a twelve month low of $243.53 and a twelve month high of $317.18. The firm has a fifty day simple moving average of $294.62 and a 200 day simple moving average of $273.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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 was down .1% on a year-over-year basis. During the same period last year, the business posted $3.17 earnings per share. As a group, equities analysts expect that McDonald’s will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.24%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 60.10%.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s 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 completion of the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock valued at $10,221,233 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of McDonald’s

A number of large investors have recently bought and sold shares of MCD. Cullen Investment Group LTD. increased its holdings in McDonald’s by 12.0% in the 1st quarter. Cullen Investment Group LTD. now owns 2,473 shares of the fast-food giant’s stock worth $687,000 after acquiring an additional 265 shares during the last quarter. Rise Advisors LLC boosted its position in McDonald’s by 29.4% during the first quarter. Rise Advisors LLC now owns 1,948 shares of the fast-food giant’s stock worth $549,000 after purchasing an additional 443 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of McDonald’s by 1.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 117,967 shares of the fast-food giant’s stock worth $33,261,000 after purchasing an additional 1,706 shares in the last quarter. New Hampshire Trust raised its position in shares of McDonald’s by 0.6% in the first quarter. New Hampshire Trust now owns 21,128 shares of the fast-food giant’s stock valued at $5,957,000 after purchasing an additional 134 shares during the period. Finally, Alaska Permanent Fund Corp lifted its stake in shares of McDonald’s by 4.9% during the 1st quarter. Alaska Permanent Fund Corp now owns 34,363 shares of the fast-food giant’s stock valued at $9,689,000 after buying an additional 1,598 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

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.