McDonald’s (NYSE:MCD) Given New $340.00 Price Target at KeyCorp

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

MCD has been the subject of several other research reports. BMO Capital Markets boosted their price objective on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Erste Group Bank upgraded shares of McDonald’s from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Bank of America lifted their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Morgan Stanley lowered their target price on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Finally, Barclays lifted their price target on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Price Performance

NYSE MCD opened at $312.87 on Thursday. McDonald’s has a one year low of $243.53 and a one year high of $326.32. The business has a 50 day simple moving average of $301.00 and a 200 day simple moving average of $297.99. The stock has a market capitalization 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.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share 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%. Equities analysts expect that McDonald’s will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.26%. McDonald’s’s payout ratio is 62.16%.

Insider Buying and Selling at McDonald’s

In related news, CMO Edith Morgan Flatley sold 3,200 shares of the company’s stock in a transaction that occurred 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 sale, the chief marketing officer now directly owns 9,858 shares in the company, valued at approximately $2,964,892.08. This represents a 24.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 directly owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,405 shares of company stock valued at $9,886,656. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Institutional investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in McDonald’s in the 3rd quarter worth about $25,000. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald’s in the fourth quarter worth about $25,000. Atala Financial Inc bought a new position in shares of McDonald’s in the fourth quarter worth $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s during the fourth quarter valued at $27,000. Finally, Collier Financial purchased a new position in McDonald’s during the fourth quarter worth about $29,000. Hedge funds and other 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.