McDonald’s (NYSE:MCD) Price Target Raised to $350.00

McDonald’s (NYSE:MCD) had its target price increased by Wells Fargo & Company from $285.00 to $350.00 in a report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the fast-food giant’s stock.

Other equities analysts have also issued research reports about the company. KeyCorp raised their price target on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. UBS Group boosted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup boosted their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Robert W. Baird boosted their target price on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Tigress Financial boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Ten research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $318.59.

McDonald’s Trading Down 0.5 %

Shares of McDonald’s stock opened at $314.89 on Monday. The firm has a market cap of $226.94 billion, a P/E ratio of 26.73, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald’s has a 12 month low of $243.53 and a 12 month high of $317.90. The stock’s fifty day moving average price is $295.53 and its 200-day moving average price is $274.01.

McDonald’s (NYSE:MCD) last announced 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 firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.17 EPS. Analysts forecast that McDonald’s will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The business 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 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,998 shares of company stock worth $9,935,493. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Eastern Bank lifted its position in shares of McDonald’s by 1,874.0% during the 3rd quarter. Eastern Bank now owns 102,392 shares of the fast-food giant’s stock valued at $31,179,000 after buying an additional 97,205 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of McDonald’s by 14.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 82,244 shares of the fast-food giant’s stock valued at $25,044,000 after buying an additional 10,278 shares in the last quarter. Traphagen Investment Advisors LLC raised its stake in McDonald’s by 17.4% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,706 shares of the fast-food giant’s stock valued at $520,000 after purchasing an additional 253 shares during the last quarter. Calton & Associates Inc. acquired a new position in McDonald’s in the 3rd quarter valued at $200,000. Finally, Oakworth Capital Inc. raised its stake in McDonald’s by 13.1% in the 3rd quarter. Oakworth Capital Inc. now owns 4,647 shares of the fast-food giant’s stock valued at $1,415,000 after purchasing an additional 538 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

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.