Guggenheim Raises McDonald’s (NYSE:MCD) Price Target to $290.00

McDonald’s (NYSE:MCD) had its price objective upped by Guggenheim from $280.00 to $290.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the fast-food giant’s stock.

Several other research analysts have also recently weighed in on the stock. TD Cowen cut shares of McDonald’s from a buy rating to a hold rating and lowered their price target for the company from $285.00 to $280.00 in a report on Wednesday, July 31st. Wedbush reaffirmed an outperform rating and issued a $295.00 price target on shares of McDonald’s in a research note on Monday, July 29th. Loop Capital cut their price target on shares of McDonald’s from $357.00 to $342.00 and set a buy rating on the stock in a report on Tuesday, July 30th. Robert W. Baird lowered their price target on shares of McDonald’s from $305.00 to $300.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of McDonald’s from $290.00 to $270.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s has a consensus rating of Moderate Buy and an average price target of $303.00.

McDonald’s Stock Performance

NYSE MCD traded down $8.15 during trading on Friday, reaching $268.54. 6,793,509 shares of the company traded hands, compared to its average volume of 3,607,048. The company has a market cap of $193.53 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 3.58 and a beta of 0.71. McDonald’s has a 1-year low of $243.53 and a 1-year high of $302.39. The stock’s 50 day moving average price is $255.91 and its two-hundred day moving average price is $272.65.

McDonald’s (NYSE:MCD) last issued its 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 business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.17 EPS. Equities research analysts expect that McDonald’s will post 11.71 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.49%. McDonald’s’s payout ratio is 56.71%.

Insider Activity

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The disclosure for this sale can be found here. Insiders have sold 5,594 shares of company stock valued at $1,454,507 in the last ninety days. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Concentric Wealth Management LLC grew its holdings in McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the period. Mechanics Financial Corp raised its position in shares of McDonald’s by 0.7% in the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares during the period. FinTrust Capital Advisors LLC boosted its stake in McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after buying an additional 36 shares in the last quarter. 9258 Wealth Management LLC boosted its stake in shares of McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its holdings in McDonald’s by 30.9% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 161 shares of the fast-food giant’s stock worth $48,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.