McDonald’s (NYSE:MCD) Given New $290.00 Price Target at Guggenheim

McDonald’s (NYSE:MCD) had its target price upped by Guggenheim from $280.00 to $290.00 in a report issued on Friday morning, Benzinga reports. Guggenheim currently has a buy rating on the fast-food giant’s stock.

A number of other equities analysts have also weighed in on MCD. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a research report on Thursday, June 13th. They set a neutral rating and a $288.00 target price for the company. Evercore ISI cut their price objective on McDonald’s from $330.00 to $300.00 and set an outperform rating for the company in a research report on Tuesday, July 16th. BMO Capital Markets decreased their target price on McDonald’s from $330.00 to $315.00 and set an outperform rating on the stock in a research report on Tuesday. Bank of America cut their price target on McDonald’s from $288.00 to $278.00 and set a neutral rating for the company in a report on Tuesday. Finally, Morgan Stanley decreased their price objective on McDonald’s from $312.00 to $300.00 and set an overweight rating on the stock in a report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of Moderate Buy and an average price target of $303.00.

McDonald’s Stock Up 3.0 %

NYSE MCD opened at $276.70 on Friday. The stock’s 50-day moving average price is $255.91 and its 200-day moving average price is $272.90. The company has a market capitalization of $199.41 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. McDonald’s has a 52 week low of $243.53 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the company earned $3.17 EPS. The business’s revenue was down .1% on a year-over-year basis. Research analysts anticipate that McDonald’s will post 11.71 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.41%. McDonald’s’s payout ratio is 56.71%.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Insiders sold a total of 5,594 shares of company stock valued at $1,454,507 in the last three months. Company insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Roffman Miller Associates Inc. PA raised its holdings in McDonald’s by 1.7% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock worth $46,179,000 after purchasing an additional 2,546 shares in the last quarter. Aigen Investment Management LP purchased a new stake in McDonald’s during the fourth quarter valued at approximately $4,286,000. Strait & Sound Wealth Management LLC acquired a new stake in McDonald’s in the fourth quarter valued at approximately $211,000. Main Street Research LLC grew its holdings in McDonald’s by 1.0% in the fourth quarter. Main Street Research LLC now owns 20,975 shares of the fast-food giant’s stock worth $6,219,000 after purchasing an additional 199 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of McDonald’s by 9.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,091,052 shares of the fast-food giant’s stock worth $321,449,000 after purchasing an additional 89,671 shares in 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.