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

McDonald’s (NYSE:MCD) had its price objective hoisted by Evercore ISI from $320.00 to $340.00 in a research note released on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the fast-food giant’s stock.

MCD has been the topic of a number of other research reports. Morgan Stanley raised their price objective on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stifel Nicolaus lowered their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. KeyCorp raised their price objective on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Bank of America lowered their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Finally, Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Trading Up 0.6 %

NYSE:MCD opened at $314.75 on Tuesday. The stock has a market cap of $226.83 billion, a P/E ratio of 26.72, a PEG ratio of 4.05 and a beta of 0.73. The stock has a 50 day simple moving average of $293.64 and a 200 day simple moving average of $273.48. McDonald’s has a 1-year low of $243.53 and a 1-year high of $315.36.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share 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 analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $3.17 earnings per share. As a group, sell-side analysts forecast that McDonald’s will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 60.10%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,097 shares of company stock worth $10,221,233. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Several institutional investors and hedge funds have recently made changes to their positions in MCD. Cullen Investment Group LTD. boosted its position in shares of McDonald’s by 12.0% during the 1st quarter. Cullen Investment Group LTD. now owns 2,473 shares of the fast-food giant’s stock valued at $687,000 after purchasing an additional 265 shares in the last quarter. Rise Advisors LLC boosted its position in shares of McDonald’s by 29.4% during the 1st quarter. Rise Advisors LLC now owns 1,948 shares of the fast-food giant’s stock valued at $549,000 after purchasing an additional 443 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of McDonald’s by 1.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 117,967 shares of the fast-food giant’s stock valued at $33,261,000 after purchasing an additional 1,706 shares in the last quarter. New Hampshire Trust boosted its holdings in McDonald’s by 0.6% in the first quarter. New Hampshire Trust now owns 21,128 shares of the fast-food giant’s stock worth $5,957,000 after acquiring an additional 134 shares in the last quarter. Finally, Alaska Permanent Fund Corp boosted its holdings in McDonald’s by 4.9% in the first quarter. Alaska Permanent Fund Corp now owns 34,363 shares of the fast-food giant’s stock worth $9,689,000 after acquiring an additional 1,598 shares in the last quarter. 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.