Citigroup Boosts McDonald’s (NYSE:MCD) Price Target to $317.00

McDonald’s (NYSE:MCD) had its price target hoisted by research analysts at Citigroup from $301.00 to $317.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the fast-food giant’s stock. Citigroup’s target price suggests a potential upside of 4.52% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. The Goldman Sachs Group raised their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Robert W. Baird boosted their price objective on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. KeyCorp lowered their price target on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Evercore ISI raised their price objective on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $308.81.

McDonald’s Price Performance

Shares of McDonald’s stock traded up $0.30 during trading hours on Wednesday, reaching $303.28. The company’s stock had a trading volume of 1,238,391 shares, compared to its average volume of 3,422,634. The stock has a market cap of $218.57 billion, a P/E ratio of 25.75, a P/E/G ratio of 3.99 and a beta of 0.73. McDonald’s has a one year low of $243.53 and a one year high of $306.96. The firm has a 50 day moving average price of $283.58 and a 200-day moving average price of $271.26.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm earned $3.17 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that McDonald’s will post 11.69 EPS for the current fiscal year.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 31,751 shares of company stock worth $9,493,973. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCD. Concentric Wealth Management LLC boosted its stake in McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after purchasing an additional 35 shares during the period. Founders Financial Alliance LLC grew its holdings in shares of McDonald’s by 0.7% during the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after buying an additional 36 shares during the last quarter. 9258 Wealth Management LLC increased its position in McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after acquiring an additional 37 shares during the period. Weatherly Asset Management L. P. raised its stake in McDonald’s by 0.9% during the 1st quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after acquiring an additional 38 shares during the last quarter. Finally, Independence Bank of Kentucky grew its stake in shares of McDonald’s by 1.3% in the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock valued at $821,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

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.