KeyCorp Raises McDonald’s (NYSE:MCD) Price Target to $340.00

McDonald’s (NYSE:MCD) had its price objective upped by analysts at KeyCorp from $335.00 to $340.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s price target would suggest a potential upside of 10.77% from the stock’s current price.

MCD has been the topic of several other research reports. Citigroup raised their price target on McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley reduced their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Barclays increased their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. BMO Capital Markets boosted their target price on shares of McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Piper Sandler dropped their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Price Performance

MCD stock opened at $306.95 on Thursday. The firm has a market cap of $219.31 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.10 and a beta of 0.71. McDonald’s has a 1-year low of $243.53 and a 1-year high of $326.32. The firm has a fifty day moving average price of $301.52 and a two-hundred day moving average price of $298.10.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 net margin of 31.73% and a negative return on equity of 181.63%. As a group, analysts expect that McDonald’s will post 12.25 EPS for the current fiscal year.

Insider Activity

In other news, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the sale, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. This represents a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,405 shares of company stock worth $9,886,656. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northeast Financial Consultants Inc increased its holdings in shares of McDonald’s by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock valued at $2,170,000 after purchasing an additional 34 shares during the last quarter. Boltwood Capital Management boosted its holdings in shares of McDonald’s by 1.9% during the 4th quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock worth $546,000 after buying an additional 35 shares during the period. Pettee Investors Inc. grew its stake in McDonald’s by 0.7% in the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after buying an additional 35 shares during the last quarter. Covestor Ltd raised its holdings in McDonald’s by 4.1% in the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock valued at $261,000 after acquiring an additional 35 shares during the period. Finally, Modus Advisors LLC lifted its position in McDonald’s by 0.4% during the fourth quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant’s stock worth $2,724,000 after acquiring an additional 36 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

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, Spain, and the U.K.