McDonald’s (NYSE:MCD) Given New $340.00 Price Target at Truist Financial

McDonald’s (NYSE:MCD) had its price objective lowered by research analysts at Truist Financial from $342.00 to $340.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s price objective indicates a potential upside of 9.70% from the stock’s previous close.

A number of other research firms have also weighed in on MCD. Wells Fargo & Company boosted their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Piper Sandler lowered their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Bank of America raised their target price on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI upped their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Stock Performance

MCD traded up $1.53 during midday trading on Tuesday, hitting $309.95. The stock had a trading volume of 2,075,271 shares, compared to its average volume of 3,157,017. McDonald’s has a 1 year low of $243.53 and a 1 year high of $317.90. The business has a fifty day moving average of $291.02 and a 200 day moving average of $291.56. The company has a market cap of $222.12 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

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

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares in the company, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the sale, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. This represents a 26.05 % 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. Insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

A number of hedge funds have recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the 3rd quarter worth approximately $25,000. Atala Financial Inc bought a new position in McDonald’s in the fourth quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of McDonald’s during the 4th quarter worth $27,000. Collier Financial bought a new stake in shares of McDonald’s during the 4th quarter valued at $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of McDonald’s in the 3rd quarter worth $31,000. 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, Russia, Spain, and the U.K.