McDonald’s (NYSE:MCD) Price Target Raised to $317.00

McDonald’s (NYSE:MCD) had its target price upped by Citigroup from $301.00 to $317.00 in a research note released on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the fast-food giant’s stock.

MCD has been the subject of a number of other reports. Tigress Financial raised their price objective on McDonald’s from $355.00 to $360.00 and gave the company a buy rating in a research report on Tuesday, September 3rd. Barclays dropped their price target on McDonald’s from $320.00 to $300.00 and set an overweight rating for the company in a report on Tuesday, July 30th. Wedbush reissued an outperform rating and set a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on McDonald’s from $270.00 to $290.00 and gave the stock an overweight rating in a report on Monday, September 16th. Finally, BMO Capital Markets dropped their price target on McDonald’s from $330.00 to $315.00 and set an outperform rating for the company in a report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $309.15.

McDonald’s Stock Up 0.1 %

MCD opened at $303.76 on Wednesday. McDonald’s has a 12-month low of $243.53 and a 12-month high of $306.96. The stock has a market cap of $218.91 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 3.99 and a beta of 0.73. The business has a 50 day moving average of $286.67 and a 200-day moving average of $271.88.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the business earned $3.17 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts expect that McDonald’s will post 11.69 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 60.10%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,751 shares of company stock worth $9,493,973 in the last 90 days. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

A number of institutional investors have recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the 1st quarter valued at about $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at about $38,000. Accent Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at about $44,000. Transcendent Capital Group LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at about $45,000. Finally, Keener Financial Planning LLC lifted its stake in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the period. 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.