McDonald’s (NYSE:MCD) Price Target Raised to $316.00

McDonald’s (NYSE:MCD) had its price target increased by Bank of America from $312.00 to $316.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the fast-food giant’s stock.

Several other equities analysts have also issued reports on MCD. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Barclays lifted their price target on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday. Citigroup lifted their price target on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Stock Up 0.8 %

Shares of NYSE:MCD opened at $309.99 on Tuesday. The company has a market capitalization of $222.15 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a 50 day moving average of $291.58 and a 200 day moving average of $292.08.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. On average, sell-side analysts expect that McDonald’s will post 11.73 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.28%. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares in the company, valued at approximately $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,906 shares of company stock worth $5,406,382. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MCD. Norges Bank acquired a new position in shares of McDonald’s during the 4th quarter worth about $2,725,190,000. Raymond James Financial Inc. acquired a new position in shares of McDonald’s during the 4th quarter worth about $703,074,000. International Assets Investment Management LLC raised its position in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. Franklin Resources Inc. raised its position in shares of McDonald’s by 24.4% during the 4th quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant’s stock worth $1,175,326,000 after purchasing an additional 794,536 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of McDonald’s by 542.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after purchasing an additional 677,139 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.