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

McDonald’s (NYSE:MCD) had its price objective increased by Tigress Financial from $355.00 to $360.00 in a research note published on Tuesday, MarketBeat.com reports. Tigress Financial currently has a buy rating on the fast-food giant’s stock.

Several other equities research analysts have also recently issued reports on the stock. Barclays lowered their price objective on shares of McDonald’s from $320.00 to $300.00 and set an overweight rating for the company in a research report on Tuesday, July 30th. Jefferies Financial Group dropped their price objective on McDonald’s from $320.00 to $310.00 and set a buy rating on the stock in a research note on Monday, July 29th. Citigroup reduced their price objective on McDonald’s from $280.00 to $275.00 and set a neutral rating on the stock in a report on Tuesday, July 30th. TD Cowen cut McDonald’s from a buy rating to a hold rating and lowered their target price for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Finally, Evercore ISI raised 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. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of Moderate Buy and a consensus target price of $303.89.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $287.93 on Tuesday. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $302.39. The company has a market cap of $207.51 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 3.86 and a beta of 0.72. The business’s 50 day moving average price is $267.95 and its 200-day moving average price is $270.93.

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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.17 EPS. Sell-side analysts predict that McDonald’s will post 11.67 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders 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 dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a legal 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 business’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 transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 over the last quarter. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s during the first quarter worth $28,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s during the 4th quarter worth about $38,000. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in McDonald’s in the 4th quarter worth about $39,000. Finally, Accent Capital Management LLC acquired a new stake in McDonald’s in the 4th quarter worth about $44,000. Institutional investors and hedge funds 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.