McDonald’s (NYSE:MCD) Price Target Raised to $290.00

McDonald’s (NYSE:MCD) had its target price upped by JPMorgan Chase & Co. from $270.00 to $290.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the fast-food giant’s stock.

A number of other brokerages have also recently commented on MCD. Evercore ISI upped their price target on McDonald’s from $300.00 to $320.00 and gave the company an outperform rating in a research note on Monday, August 19th. Loop Capital reissued a buy rating and set a $342.00 target price on shares of McDonald’s in a research note on Tuesday, September 10th. Stifel Nicolaus reduced their price target on McDonald’s from $285.00 to $265.00 and set a hold rating for the company in a research report on Monday, July 22nd. Tigress Financial increased their price objective on McDonald’s from $355.00 to $360.00 and gave the company a buy rating in a report on Tuesday, September 3rd. Finally, Truist Financial cut their price objective on McDonald’s from $300.00 to $295.00 and set a buy rating for the company in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $306.11.

McDonald’s Price Performance

MCD opened at $292.02 on Monday. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $302.39. The firm’s fifty day moving average price is $275.66 and its two-hundred day moving average price is $270.68. The company has a market capitalization of $210.45 billion, a P/E ratio of 24.79, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.17 EPS. On average, equities research analysts expect that McDonald’s will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’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 owns 1,560 shares in the company, valued at $446,721.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,291 shares of company stock valued at $1,689,073. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the 1st quarter worth approximately $28,000. Clear Investment Research LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at $38,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s in the second quarter valued at $38,000. Accent Capital Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at $44,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at $45,000. Institutional investors and hedge funds 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.