McDonald’s (NYSE:MCD) Price Target Raised to $360.00

McDonald’s (NYSE:MCD) had its price objective increased by Citigroup from $336.00 to $360.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the fast-food giant’s stock.

Several other research analysts also recently commented on the company. Piper Sandler reduced their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Loop Capital reissued a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Finally, Evercore ISI upped their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Price Performance

Shares of MCD stock opened at $309.99 on Tuesday. The company has a market cap of $222.15 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 4.08 and a beta of 0.74. The stock has a 50 day simple moving average of $291.58 and a 200-day simple moving average of $292.08. McDonald’s has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. Analysts anticipate that McDonald’s will post 11.73 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,906 shares of company stock worth $5,406,382 in the last three months. 0.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On McDonald’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in McDonald’s in the 3rd quarter valued at about $1,394,000. YANKCOM Partnership acquired a new stake in McDonald’s in the 4th quarter valued at about $1,628,000. Charles Schwab Investment Management Inc. raised its position in McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after purchasing an additional 49,106 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares in the last quarter. Finally, PFW Advisors LLC acquired a new stake in McDonald’s in the 4th quarter valued at about $2,471,000. 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.