McDonald’s (NYSE:MCD) Given New $330.00 Price Target at KeyCorp

McDonald’s (NYSE:MCD) had its price target hoisted by KeyCorp from $305.00 to $330.00 in a research report released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the fast-food giant’s stock.

Other equities research analysts have also issued reports about the company. BMO Capital Markets decreased their price target on McDonald’s from $330.00 to $315.00 and set an outperform rating on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on McDonald’s from $284.00 to $325.00 and gave the company a neutral rating in a report on Tuesday, September 24th. Barclays cut their price target on McDonald’s from $320.00 to $300.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Tigress Financial increased their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a buy rating in a report on Tuesday, September 3rd. Finally, Robert W. Baird raised their price objective on McDonald’s from $280.00 to $320.00 and gave the company an outperform rating in a report on Thursday, September 26th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $310.50.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $304.04 on Monday. The business’s fifty day moving average price is $288.93 and its two-hundred day moving average price is $272.20. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $306.96. The stock has a market capitalization of $218.10 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results 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). 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 company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $3.17 EPS. Research analysts expect that McDonald’s will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.33%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 58.44%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,751 shares of company stock worth $9,493,973. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of McDonald’s

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connectus Wealth LLC increased its stake in shares of McDonald’s by 41.2% in the 4th quarter. Connectus Wealth LLC now owns 4,711 shares of the fast-food giant’s stock worth $1,399,000 after acquiring an additional 1,374 shares in the last quarter. XML Financial LLC lifted its holdings in shares of McDonald’s by 3.3% during the fourth quarter. XML Financial LLC now owns 7,324 shares of the fast-food giant’s stock valued at $2,172,000 after purchasing an additional 237 shares during the last quarter. Unigestion Holding SA boosted its position in shares of McDonald’s by 3,619.9% in the 4th quarter. Unigestion Holding SA now owns 146,712 shares of the fast-food giant’s stock worth $43,487,000 after purchasing an additional 142,768 shares in the last quarter. Cresset Asset Management LLC grew its stake in shares of McDonald’s by 1.9% in the 4th quarter. Cresset Asset Management LLC now owns 128,366 shares of the fast-food giant’s stock worth $38,062,000 after buying an additional 2,445 shares during the last quarter. Finally, Bennett Associates Wealth Management bought a new position in McDonald’s during the 4th quarter valued at approximately $233,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.