McDonald’s (NYSE:MCD) PT Raised to $322.00

McDonald’s (NYSE:MCD) had its price objective increased by analysts at Bank of America from $308.00 to $322.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the fast-food giant’s stock. Bank of America‘s price target suggests a potential upside of 2.34% from the stock’s current price.

MCD has been the subject of a number of other reports. Citigroup lifted their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial boosted their target price on McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Tigress Financial increased their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, TD Cowen upped their target price on shares of McDonald’s from $280.00 to $300.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.52.

McDonald’s Stock Down 0.1 %

Shares of NYSE:MCD opened at $314.65 on Monday. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm’s 50 day moving average price is $296.41 and its 200 day moving average price is $274.34. The stock has a market cap of $226.76 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

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

Insider Buying and Selling

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,998 shares of company stock valued at $9,935,493 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Global Assets Advisory LLC acquired a new stake in shares of McDonald’s in the 3rd quarter worth approximately $469,000. Cherry Creek Investment Advisors Inc. purchased a new stake in McDonald’s during the third quarter worth $213,000. Romano Brothers AND Company boosted its position in McDonald’s by 0.7% during the third quarter. Romano Brothers AND Company now owns 11,237 shares of the fast-food giant’s stock worth $3,422,000 after purchasing an additional 75 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in McDonald’s by 4.6% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,468 shares of the fast-food giant’s stock valued at $1,056,000 after purchasing an additional 154 shares during the last quarter. Finally, Great Lakes Retirement Inc. increased its position in shares of McDonald’s by 1.8% in the third quarter. Great Lakes Retirement Inc. now owns 5,127 shares of the fast-food giant’s stock valued at $1,561,000 after buying an additional 91 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

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.