McDonald’s (NYSE:MCD) PT Raised to $341.00

McDonald’s (NYSE:MCDGet Free Report) had its price target upped by equities researchers at Bank of America from $291.00 to $341.00 in a research note issued to investors on Monday, Briefing.com reports. The brokerage presently has a “neutral” rating on the fast-food giant’s stock. Bank of America‘s price objective would suggest a potential upside of 15.68% from the company’s current price.

A number of other analysts have also commented on the company. Truist Financial lifted their price target on McDonald’s from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley cut their price target on McDonald’s from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 11th. BMO Capital Markets lifted their price target on McDonald’s from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. lifted their price target on McDonald’s from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Tuesday, October 31st. Finally, Piper Sandler lifted their price target on McDonald’s from $273.00 to $299.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. Six research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $317.77.

View Our Latest Stock Analysis on McDonald’s

McDonald’s Stock Up 0.8 %

NYSE:MCD opened at $294.79 on Monday. The stock’s 50-day simple moving average is $290.96 and its 200 day simple moving average is $280.24. The firm has a market capitalization of $213.82 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 2.59 and a beta of 0.71. McDonald’s has a twelve month low of $245.73 and a twelve month high of $302.39.

McDonald’s (NYSE:MCDGet Free Report) last released its quarterly earnings data on Monday, October 30th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.19. McDonald’s had a negative return on equity of 157.19% and a net margin of 33.31%. The business had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the firm posted $2.68 earnings per share. McDonald’s’s revenue was up 14.0% compared to the same quarter last year. On average, analysts anticipate that McDonald’s will post 11.79 EPS for the current fiscal year.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $281.25, for a total transaction of $1,261,968.75. Following the transaction, the insider now owns 8,908 shares of the company’s stock, valued at $2,505,375. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $281.25, for a total transaction of $1,261,968.75. Following the transaction, the insider now owns 8,908 shares of the company’s stock, valued at $2,505,375. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 4,583 shares of McDonald’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $290.70, for a total value of $1,332,278.10. Following the transaction, the insider now directly owns 8,187 shares in the company, valued at approximately $2,379,960.90. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its stake in McDonald’s by 106,340.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock valued at $5,069,234,000 after purchasing an additional 19,217,818 shares during the period. Norges Bank bought a new position in McDonald’s in the 4th quarter valued at $2,341,360,000. International Assets Investment Management LLC grew its stake in McDonald’s by 10,702.5% in the 4th quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after purchasing an additional 2,154,297 shares during the period. Osaic Holdings Inc. grew its stake in McDonald’s by 469.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,471,671 shares of the fast-food giant’s stock valued at $129,170,000 after purchasing an additional 2,037,371 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in McDonald’s by 1,189.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,191,692 shares of the fast-food giant’s stock valued at $541,962,000 after purchasing an additional 2,021,754 shares during the period. Hedge funds and other institutional investors own 67.60% of the company’s stock.

About McDonald’s

(Get Free Report)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.

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Analyst Recommendations for McDonald's (NYSE:MCD)

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