McDonald’s (NYSE:MCD) Given New $335.00 Price Target at BMO Capital Markets

McDonald’s (NYSE:MCD) had its price target increased by BMO Capital Markets from $315.00 to $335.00 in a report published on Wednesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the fast-food giant’s stock.

Other research analysts have also recently issued reports about the stock. Evercore ISI increased their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Citigroup increased their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. KeyCorp increased their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Bank of America increased their price objective on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $319.46.

McDonald’s Trading Up 1.1 %

Shares of NYSE:MCD opened at $295.21 on Wednesday. The firm’s 50 day moving average is $298.36 and its two-hundred day moving average is $275.86. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $211.77 billion, a P/E ratio of 25.92, a PEG ratio of 3.88 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the business earned $3.19 earnings per share. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. Analysts predict that McDonald’s will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. 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 2.40%. McDonald’s’s dividend payout ratio is presently 58.65%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock worth $10,256,818 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Wealth Management LLC raised its holdings in McDonald’s by 7.6% in the 1st quarter. Cornerstone Wealth Management LLC now owns 8,471 shares of the fast-food giant’s stock worth $2,389,000 after acquiring an additional 598 shares during the period. Tempus Wealth Planning LLC raised its holdings in McDonald’s by 4.5% in the 1st quarter. Tempus Wealth Planning LLC now owns 1,155 shares of the fast-food giant’s stock worth $326,000 after acquiring an additional 50 shares during the period. New Century Financial Group LLC acquired a new stake in McDonald’s in the 1st quarter worth $303,000. Van ECK Associates Corp grew its position in McDonald’s by 3.1% in the 1st quarter. Van ECK Associates Corp now owns 16,166 shares of the fast-food giant’s stock worth $4,558,000 after purchasing an additional 484 shares during the last quarter. Finally, Norden Group LLC grew its position in McDonald’s by 31.7% in the 1st quarter. Norden Group LLC now owns 5,064 shares of the fast-food giant’s stock worth $1,428,000 after purchasing an additional 1,219 shares during 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.