McDonald’s (NYSE:MCD) Given New $381.00 Price Target at Citigroup

McDonald’s (NYSE:MCD) had its price objective raised by Citigroup from $373.00 to $381.00 in a research note published on Wednesday morning, Marketbeat reports. Citigroup currently has a buy rating on the fast-food giant’s stock.

A number of other equities research analysts have also issued reports on MCD. Piper Sandler increased their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Redburn Atlantic reiterated a “sell” rating and set a $260.00 target price (down from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Truist Financial increased their target price on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Erste Group Bank downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, TD Cowen increased their target price on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Hold” and a consensus price target of $325.86.

McDonald’s Price Performance

Shares of MCD opened at $302.30 on Wednesday. McDonald’s has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a 50 day simple moving average of $306.06 and a two-hundred day simple moving average of $306.45. The firm has a market cap of $215.72 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the firm posted $2.97 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s payout ratio is presently 60.67%.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,341 shares of company stock valued at $2,544,327. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. purchased a new position in McDonald’s in the fourth quarter valued at about $25,000. Decker Retirement Planning Inc. boosted its position in McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in McDonald’s in the 2nd quarter worth approximately $25,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the 1st quarter worth approximately $26,000. Finally, Nova Wealth Management Inc. purchased a new stake in McDonald’s in the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.