McDonald’s (NYSE:MCD – Get Free Report) had its target price increased by equities researchers at Truist Financial from $295.00 to $350.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s price objective suggests a potential upside of 12.53% from the company’s previous close.
Other research analysts have also issued reports about the company. Guggenheim raised their price target on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Tigress Financial lifted their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. KeyCorp upped their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lifted their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, UBS Group upped their price target on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.92.
Check Out Our Latest Report on McDonald’s
McDonald’s Trading Up 0.4 %
McDonald’s (NYSE:MCD – Get Free Report) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.17 earnings per share. As a group, analysts predict that McDonald’s will post 11.71 EPS for the current fiscal year.
Insider Activity
In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now directly owns 43,256 shares in the company, valued at approximately $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the transaction, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,751 shares of company stock worth $9,493,973 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.
Hedge Funds Weigh In On McDonald’s
Several institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. bought a new position in shares of McDonald’s in the 2nd quarter valued at approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares during the last quarter. BNP Paribas acquired a new stake in shares of McDonald’s in the first quarter worth $7,898,000. First Long Island Investors LLC boosted its holdings in shares of McDonald’s by 16.6% during the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock worth $15,231,000 after buying an additional 7,707 shares during the period. Finally, Lloyd Advisory Services LLC. raised its holdings in McDonald’s by 504.6% in the 1st quarter. Lloyd Advisory Services LLC. now owns 9,165 shares of the fast-food giant’s stock worth $2,584,000 after acquiring an additional 7,649 shares during the period. 70.29% of the stock is currently owned by institutional investors.
About McDonald’s
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.
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