KeyCorp Boosts McDonald’s (NYSE:MCD) Price Target to $335.00

McDonald’s (NYSE:MCD) had its target price lifted by KeyCorp from $320.00 to $335.00 in a report published on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the fast-food giant’s stock.

A number of other brokerages have also recently weighed in on MCD. BMO Capital Markets raised their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Loop Capital reaffirmed a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Truist Financial lowered their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Piper Sandler reduced their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Barclays boosted their target price on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $310.16 on Tuesday. McDonald’s has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a market cap of $222.27 billion, a PE ratio of 27.23, a PEG ratio of 4.08 and a beta of 0.74. The company has a 50 day simple moving average of $291.02 and a two-hundred day simple moving average of $291.56.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. As a group, research analysts anticipate that McDonald’s will post 11.73 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the sale, the insider now owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,406 shares of company stock valued at $2,150,857. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

A number of institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its stake in McDonald’s by 1.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,513 shares of the fast-food giant’s stock valued at $765,000 after purchasing an additional 42 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of McDonald’s during the third quarter valued at approximately $1,472,000. VitalStone Financial LLC lifted its holdings in shares of McDonald’s by 148.8% in the third quarter. VitalStone Financial LLC now owns 311 shares of the fast-food giant’s stock worth $95,000 after buying an additional 186 shares in the last quarter. CX Institutional boosted its position in shares of McDonald’s by 65.8% during the third quarter. CX Institutional now owns 27,040 shares of the fast-food giant’s stock worth $8,234,000 after acquiring an additional 10,733 shares during the last quarter. Finally, Creative Planning grew its stake in McDonald’s by 1.4% during the third quarter. Creative Planning now owns 329,417 shares of the fast-food giant’s stock valued at $100,311,000 after acquiring an additional 4,480 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

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, Russia, Spain, and the U.K.