McDonald’s (NYSE:MCD) Price Target Increased to $320.00 by Analysts at Evercore ISI

McDonald’s (NYSE:MCD) had its target price raised by Evercore ISI from $300.00 to $320.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the fast-food giant’s stock.

Several other research firms have also issued reports on MCD. Guggenheim boosted their target price on shares of McDonald’s from $280.00 to $290.00 and gave the company a buy rating in a report on Friday, August 2nd. Wedbush restated an outperform rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Robert W. Baird lowered their target price on McDonald’s from $305.00 to $300.00 and set an outperform rating for the company in a report on Wednesday, May 1st. BMO Capital Markets cut their price target on McDonald’s from $330.00 to $315.00 and set an outperform rating on the stock in a report on Tuesday, July 30th. Finally, Morgan Stanley lowered their price objective on shares of McDonald’s from $312.00 to $300.00 and set an overweight rating for the company in a research note on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $303.71.

McDonald’s Trading Down 0.1 %

Shares of MCD stock opened at $289.35 on Monday. The stock has a 50-day moving average of $261.43 and a 200-day moving average of $270.98. The stock has a market cap of $208.53 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 3.58 and a beta of 0.71. McDonald’s has a 1-year low of $243.53 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last released its earnings results 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). The firm had revenue of $6.49 billion for 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 178.92%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.17 EPS. Sell-side analysts forecast that McDonald’s will post 11.71 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is 56.71%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were 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 $3,842,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The disclosure for this sale can be found here. Insiders sold a total of 3,695 shares of company stock worth $943,113 over the last quarter. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Hedge funds have recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter worth about $28,000. Signature Resources Capital Management LLC purchased a new position in McDonald’s in the fourth quarter valued at approximately $31,000. Clear Investment Research LLC bought a new position in McDonald’s during the fourth quarter valued at $38,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the second quarter worth $38,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new stake in shares of McDonald’s in the fourth quarter valued at $39,000. 70.29% of the stock is currently owned by 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.