McDonald’s (NYSE:MCD) Price Target Raised to $350.00

McDonald’s (NYSE:MCD) had its price objective upped by Barclays from $347.00 to $350.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the fast-food giant’s stock.

Several other equities research analysts have also recently commented on MCD. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Bank of America upped their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Price Performance

McDonald’s stock opened at $307.47 on Monday. McDonald’s has a 12 month low of $243.53 and a 12 month high of $317.90. The business has a 50 day simple moving average of $291.33 and a 200-day simple moving average of $291.97. The stock has a market capitalization of $220.34 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

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

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.30%. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the sale, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the transaction, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock worth $2,150,857 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

Several large investors have recently added to or reduced their stakes in MCD. Legacy Investment Solutions LLC purchased a new position in McDonald’s during the third quarter worth about $25,000. Atala Financial Inc purchased a new position in McDonald’s during the fourth quarter worth about $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in McDonald’s during the fourth quarter worth about $27,000. Collier Financial purchased a new position in McDonald’s during the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC lifted its position in McDonald’s by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after buying an additional 55 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.