Bank of America Issues Positive Forecast for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price target increased by Bank of America from $321.00 to $324.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the fast-food giant’s stock.

Other analysts also recently issued reports about the company. Tigress Financial lifted their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Truist Financial decreased their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group lifted their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wedbush restated an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their price target on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Trading Up 1.1 %

Shares of MCD stock opened at $295.24 on Wednesday. The business’s 50 day moving average is $298.36 and its two-hundred day moving average is $275.78. McDonald’s has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market capitalization of $211.79 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the business posted $3.19 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that McDonald’s will post 11.78 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 58.65%.

Insider Activity at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McDonald’s

Several institutional investors and hedge funds have recently modified their holdings of the stock. Steigerwald Gordon & Koch Inc. boosted its position in shares of McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares during the period. Riversedge Advisors LLC boosted its holdings in McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC boosted its holdings in McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC boosted its holdings in McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the last quarter. Finally, Founders Financial Alliance LLC boosted its holdings in McDonald’s by 0.7% in the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other 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.