McDonald’s (NYSE:MCD) Given New $335.00 Price Target at BMO Capital Markets

McDonald’s (NYSE:MCD) had its target price increased by BMO Capital Markets from $315.00 to $335.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the fast-food giant’s stock.

A number of other analysts also recently issued reports on MCD. Tigress Financial raised their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Evercore ISI increased their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $318.74.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $291.64 on Wednesday. The company has a market capitalization of $209.21 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73. The company’s 50-day moving average is $298.19 and its 200 day moving average is $275.47. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the company earned $3.19 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that McDonald’s will post 11.73 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald’s’s dividend payout ratio (DPR) is presently 61.94%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the company’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 sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MCD. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC grew its holdings in shares of McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s in the second quarter worth $59,000. Bbjs Financial Advisors LLC bought a new stake in McDonald’s during the 2nd quarter valued at $65,000. Finally, Macroview Investment Management LLC boosted its position in McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after buying an additional 208 shares during the period. 70.29% of the stock is 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.