McDonald’s (NYSE:MCD) Given New $340.00 Price Target at Morgan Stanley

McDonald’s (NYSE:MCD) had its price target lifted by stock analysts at Morgan Stanley from $336.00 to $340.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the fast-food giant’s stock. Morgan Stanley’s price objective points to a potential upside of 9.70% from the company’s previous close.

A number of other equities research analysts also recently weighed in on MCD. KeyCorp upped their price target on shares of McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday. Piper Sandler cut their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Wedbush lifted their price target on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday. Robert W. Baird raised their price objective on McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on McDonald’s from $280.00 to $300.00 and gave the stock 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Price Performance

Shares of NYSE MCD traded up $1.53 during mid-day trading on Tuesday, reaching $309.95. 2,075,271 shares of the company traded hands, compared to its average volume of 3,157,017. The firm has a market cap of $222.12 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The stock has a fifty day simple moving average of $291.02 and a 200-day simple moving average of $291.56.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. As a group, analysts predict that McDonald’s will post 11.73 EPS for the current fiscal year.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $291.10, for a total value of $319,918.90. Following the transaction, the insider now directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,406 shares of company stock valued at $2,150,857. Insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lakeshore Financial Planning Inc. grew its position in McDonald’s by 1.9% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,527 shares of the fast-food giant’s stock valued at $733,000 after acquiring an additional 47 shares during the period. Wayfinding Financial LLC bought a new stake in shares of McDonald’s during the fourth quarter worth $790,000. Oxford Financial Group LTD. LLC lifted its position in McDonald’s by 0.3% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 79,219 shares of the fast-food giant’s stock valued at $22,965,000 after purchasing an additional 200 shares during the period. Lee Danner & Bass Inc. lifted its holdings in McDonald’s by 2.0% in the fourth quarter. Lee Danner & Bass Inc. now owns 13,807 shares of the fast-food giant’s stock valued at $4,003,000 after buying an additional 270 shares during the period. Finally, Independent Solutions Wealth Management LLC boosted its position in shares of McDonald’s by 1.0% in the 4th quarter. Independent Solutions Wealth Management LLC now owns 9,031 shares of the fast-food giant’s stock worth $2,618,000 after purchasing an additional 92 shares during the last quarter. 70.29% of the stock is currently owned by 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, Russia, Spain, and the U.K.