KeyCorp Cuts McDonald’s (NYSE:MCD) Price Target to $320.00

McDonald’s (NYSE:MCD) had its target price reduced by KeyCorp from $330.00 to $320.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the fast-food giant’s stock.

A number of other equities research analysts have also weighed in on MCD. UBS Group upped their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Barclays raised their target price on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.78.

McDonald’s Price Performance

McDonald’s stock opened at $285.37 on Friday. The stock’s 50 day moving average is $291.07 and its 200 day moving average is $288.43. McDonald’s has a one year low of $243.53 and a one year high of $317.90. The firm has a market cap of $204.50 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter last year, the firm earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that McDonald’s will post 11.72 earnings per share for the current fiscal year.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the sale, the insider now owns 7,887 shares in the company, 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. In the last 90 days, insiders have sold 8,905 shares of company stock worth $2,592,327. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MCD. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s during the 3rd quarter valued at $25,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s in the 3rd quarter worth approximately $31,000. Hara Capital LLC purchased a new stake in shares of McDonald’s in the third quarter worth $44,000. Financial Life Planners bought a new position in McDonald’s in the 4th quarter worth approximately $49,000. Finally, Peterson Financial Group Inc. bought a new position in shares of McDonald’s during the 3rd quarter valued at about $58,000. 70.29% of the stock is owned by hedge funds and other 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.