KeyCorp Increases McDonald’s (NYSE:MCD) Price Target to $340.00

McDonald’s (NYSE:MCD) had its price objective increased by KeyCorp from $335.00 to $340.00 in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the fast-food giant’s stock.

A number of other research analysts have also recently issued reports on MCD. Loop Capital reaffirmed a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Barclays raised their price objective on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. boosted their target price on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Robert W. Baird upped their target price on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Finally, Bank of America lifted their price target on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Price Performance

Shares of MCD stock opened at $306.95 on Thursday. The business’s fifty day moving average price is $301.52 and its 200 day moving average price is $298.15. The firm has a market capitalization of $219.31 billion, a PE ratio of 26.95, a P/E/G ratio of 3.10 and a beta of 0.71. McDonald’s has a 1-year low of $243.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities research analysts expect that McDonald’s will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 3,200 shares of McDonald’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $300.76, for a total transaction of $962,432.00. Following the completion of the transaction, the chief marketing officer now owns 9,858 shares in the company, valued at approximately $2,964,892.08. This trade represents a 24.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,405 shares of company stock worth $9,886,656. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On McDonald’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fire Capital Management LLC purchased a new stake in shares of McDonald’s during the 4th quarter worth about $610,000. Mascagni Wealth Management Inc. purchased a new stake in McDonald’s during the fourth quarter worth approximately $25,000. Prostatis Group LLC increased its position in shares of McDonald’s by 2.1% in the fourth quarter. Prostatis Group LLC now owns 5,148 shares of the fast-food giant’s stock worth $1,492,000 after acquiring an additional 105 shares in the last quarter. DSG Capital Advisors LLC purchased a new position in shares of McDonald’s in the 4th quarter valued at $662,000. Finally, Chancellor Financial Group WB LP purchased a new stake in McDonald’s during the 4th quarter worth $656,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.