Truist Financial Raises McDonald’s (NYSE:MCD) Price Target to $350.00

by · The Cerbat Gem

McDonald’s (NYSE:MCD – Free Report) had its target price boosted by Truist Financial from $295.00 to $350.00 in a report published on Tuesday, Marketbeat.com reports. The firm currently has a buy rating on the fast-food giant’s stock.

MCD has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Jefferies Financial Group increased their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. TD Cowen reissued a “hold” rating and issued a $280.00 price objective on shares of McDonald’s in a research note on Monday, September 23rd. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, KeyCorp upped their target price on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $315.69.

Read Our Latest Analysis on McDonald’s

McDonald’s Price Performance

MCD stock opened at $314.75 on Tuesday. The company has a fifty day moving average price of $293.64 and a 200 day moving average price of $273.48. McDonald’s has a 12 month low of $243.53 and a 12 month high of $315.36. The company has a market cap of $226.83 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (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 business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.17 earnings per share. As a group, analysts anticipate that McDonald’s will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. 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 annualized dividend and a yield of 2.25%. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,221,233 over the last 90 days. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of McDonald’s

Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors lifted its stake in McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. Capital World Investors lifted its stake in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, Fayez Sarofim & Co lifted its stake in McDonald’s by 0.4% during the first quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock worth $640,972,000 after purchasing an additional 8,475 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

About McDonald’s

(Get Free Report)

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.

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