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

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

Other research analysts also recently issued reports about the company. TD Securities reiterated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research note on Monday, February 10th. Truist Financial decreased their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Robert W. Baird raised their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. Finally, Citigroup raised their price objective on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Price Performance

Shares of MCD stock opened at $312.87 on Thursday. The stock has a market cap of $223.53 billion, a P/E ratio of 27.47, a P/E/G ratio of 3.10 and a beta of 0.71. The company has a fifty day moving average price of $301.00 and a two-hundred day moving average price of $297.99. McDonald’s has a one year low of $243.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, equities research analysts anticipate that McDonald’s will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio is presently 62.16%.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the sale, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. This represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,405 shares of company stock worth $9,886,656. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of McDonald’s during the fourth quarter worth $2,725,190,000. Raymond James Financial Inc. bought a new position in McDonald’s during the 4th quarter worth $703,074,000. Castlekeep Investment Advisors LLC acquired a new position in McDonald’s during the 4th quarter worth about $350,935,000. Northern Trust Corp grew its position in shares of McDonald’s by 11.2% in the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after buying an additional 895,896 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of McDonald’s by 24.4% in the fourth quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant’s stock valued at $1,175,326,000 after buying an additional 794,536 shares during the period. Institutional investors own 70.29% of the company’s stock.

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.