TD Cowen Increases McDonald’s (NYSE:MCD) Price Target to $300.00

McDonald’s (NYSE:MCD) had its target price boosted by TD Cowen from $280.00 to $300.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the fast-food giant’s stock. TD Cowen’s price target would indicate a potential downside of 4.69% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. UBS Group boosted their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays decreased their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. KeyCorp raised their price target on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Truist Financial boosted their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Stock Performance

Shares of MCD stock opened at $314.75 on Wednesday. The company has a market capitalization of $226.83 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s has a one year low of $243.53 and a one year high of $315.36. The company’s 50-day moving average is $293.64 and its 200 day moving average is $273.48.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.17 EPS. As a group, research analysts predict that McDonald’s will post 11.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at $3,557,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock worth $10,221,233 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Several institutional investors have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. grew its holdings in shares of McDonald’s by 1.0% in the third quarter. Stratos Wealth Partners LTD. now owns 100,204 shares of the fast-food giant’s stock valued at $30,513,000 after purchasing an additional 963 shares in the last quarter. Pachira Investments Inc. purchased a new position in shares of McDonald’s in the 3rd quarter worth $229,000. Inspire Advisors LLC bought a new stake in shares of McDonald’s in the 3rd quarter worth about $222,000. Trust Point Inc. raised its position in shares of McDonald’s by 4.0% during the 3rd quarter. Trust Point Inc. now owns 5,078 shares of the fast-food giant’s stock valued at $1,546,000 after buying an additional 196 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of McDonald’s by 4.4% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 4,893 shares of the fast-food giant’s stock valued at $1,490,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Company Profile

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.