Bank of America Issues Positive Forecast for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price objective boosted by research analysts at Bank of America from $312.00 to $316.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the fast-food giant’s stock. Bank of America‘s target price would indicate a potential upside of 2.13% from the company’s current price.

Several other research firms also recently weighed in on MCD. Wells Fargo & Company increased their price target on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Citigroup lifted their price target on shares of McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp raised their price objective on shares of McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, TD Cowen reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $323.30.

McDonald’s Stock Up 0.3 %

Shares of NYSE MCD traded up $1.00 during trading on Tuesday, reaching $309.42. 292,016 shares of the company traded hands, compared to its average volume of 3,094,173. The stock has a market capitalization of $221.74 billion, a PE ratio of 27.15, a P/E/G ratio of 4.08 and a beta of 0.74. The firm has a 50 day simple moving average of $291.02 and a 200-day simple moving average of $291.56. McDonald’s has a 52-week low of $243.53 and a 52-week high of $317.90.

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

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at $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 ninety days, insiders sold 7,406 shares of company stock worth $2,150,857. 0.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the 3rd quarter valued at about $25,000. Atala Financial Inc purchased a new stake in McDonald’s during the 4th quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in McDonald’s in the 4th quarter worth approximately $27,000. Collier Financial acquired a new position in shares of McDonald’s during the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC grew its position in shares of McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 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, Russia, Spain, and the U.K.