McDonald’s (NYSE:MCD) Price Target Raised to $300.00 at TD Cowen

McDonald’s (NYSE:MCD) had its target price lifted by TD Cowen from $280.00 to $300.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a hold rating on the fast-food giant’s stock.

Several other research analysts have also weighed in on MCD. Robert W. Baird increased their target price on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets dropped their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Stifel Nicolaus decreased their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Finally, Morgan Stanley lifted their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $315.69.

McDonald’s Trading Down 0.1 %

McDonald’s stock opened at $312.93 on Wednesday. The company has a 50-day moving average price of $292.77 and a 200 day moving average price of $273.19. McDonald’s has a 12-month low of $243.53 and a 12-month high of $315.36. The stock has a market cap of $225.52 billion, a P/E ratio of 26.56, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly 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). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the business earned $3.17 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts forecast that McDonald’s will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.26%. McDonald’s’s payout ratio is 60.10%.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Heirloom Wealth Management lifted its holdings in shares of McDonald’s by 2.6% during the third quarter. Heirloom Wealth Management now owns 27,930 shares of the fast-food giant’s stock worth $8,505,000 after purchasing an additional 698 shares during the period. TruWealth Advisors LLC lifted its stake in shares of McDonald’s by 8.9% in the 3rd quarter. TruWealth Advisors LLC now owns 7,227 shares of the fast-food giant’s stock worth $2,201,000 after acquiring an additional 588 shares during the period. Ellsworth Advisors LLC boosted its holdings in shares of McDonald’s by 2.8% in the third quarter. Ellsworth Advisors LLC now owns 19,464 shares of the fast-food giant’s stock valued at $5,927,000 after acquiring an additional 521 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of McDonald’s by 3.0% during the third quarter. Trust Co. of Vermont now owns 47,761 shares of the fast-food giant’s stock worth $14,544,000 after acquiring an additional 1,391 shares during the period. Finally, Secure Asset Management LLC raised its holdings in McDonald’s by 3.8% during the third quarter. Secure Asset Management LLC now owns 7,297 shares of the fast-food giant’s stock worth $2,222,000 after purchasing an additional 264 shares in the last quarter. 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.