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

McDonald’s (NYSE:MCD) had its price objective hoisted by Tigress Financial from $355.00 to $360.00 in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the fast-food giant’s stock.

Several other brokerages have also issued reports on MCD. Jefferies Financial Group dropped their target price on shares of McDonald’s from $320.00 to $310.00 and set a buy rating for the company in a research report on Monday, July 29th. Evercore ISI upped their target price on shares of McDonald’s from $300.00 to $320.00 and gave the stock an outperform rating in a research report on Monday, August 19th. KeyCorp lowered their price target on McDonald’s from $310.00 to $305.00 and set an overweight rating on the stock in a research report on Tuesday, July 30th. Citigroup cut their price objective on McDonald’s from $280.00 to $275.00 and set a neutral rating for the company in a report on Tuesday, July 30th. Finally, Barclays decreased their price objective on McDonald’s from $320.00 to $300.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Eleven equities research 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, the company currently has an average rating of Moderate Buy and an average target price of $303.89.

McDonald’s Price Performance

MCD opened at $289.58 on Tuesday. The firm has a market capitalization of $208.70 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72. McDonald’s has a one year low of $243.53 and a one year high of $302.39. The company has a fifty day moving average price of $268.64 and a 200-day moving average price of $270.91.

McDonald’s (NYSE:MCD) last announced 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 the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.17 earnings per share. On average, analysts expect that McDonald’s will post 11.67 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’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 value of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,291 shares of company stock valued at $1,689,073. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McDonald’s

Hedge funds have recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the first quarter valued at $28,000. Clear Investment Research LLC bought a new stake in McDonald’s during the 4th quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC purchased a new position in McDonald’s in the fourth quarter worth about $39,000. Kings Path Partners LLC bought a new position in shares of McDonald’s in the second quarter worth approximately $38,000. Finally, Accent Capital Management LLC purchased a new stake in shares of McDonald’s during the fourth quarter valued at approximately $44,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Company Profile

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.