McDonald’s (NYSE:MCD) Price Target Raised to $340.00

McDonald’s (NYSE:MCD) had its price objective raised by BMO Capital Markets from $335.00 to $340.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the fast-food giant’s stock.

Other equities research analysts have also recently issued reports about the stock. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Truist Financial dropped their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Bank of America boosted their price target on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, KeyCorp boosted their price target on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Stock Performance

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

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. As a group, research analysts forecast that McDonald’s will post 11.73 EPS for the current fiscal year.

McDonald’s Announces Dividend

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

Insider Buying and Selling at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,906 shares of company stock valued at $5,406,382 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

A number of large investors have recently bought and sold shares of the stock. Riversedge Advisors LLC raised its stake in McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC raised its stake in McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares during the period. Clear Creek Financial Management LLC raised its stake in McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after purchasing an additional 35 shares during the period. GDS Wealth Management raised its stake in McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after purchasing an additional 35 shares during the period. Finally, Boltwood Capital Management raised its stake in McDonald’s by 1.9% during the fourth quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock worth $546,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.