McDonald’s (NYSE:MCD) Given New $320.00 Price Target at KeyCorp

McDonald’s (NYSE:MCD) had its price objective dropped by research analysts at KeyCorp from $330.00 to $320.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s target price would indicate a potential upside of 11.95% from the stock’s previous close.

A number of other brokerages have also issued reports on MCD. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley lowered their price target on McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a report on Tuesday. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Finally, TD Cowen reaffirmed a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $320.78.

McDonald’s Stock Up 0.5 %

NYSE MCD traded up $1.42 during trading hours on Friday, hitting $285.85. The company had a trading volume of 845,419 shares, compared to its average volume of 2,940,791. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a market cap of $204.85 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73. The business has a fifty day simple moving average of $291.21 and a 200-day simple moving average of $287.88.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.19 EPS. Equities analysts forecast that McDonald’s will post 11.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the transaction, the insider now directly owns 9,286 shares in the company, valued at $2,716,155. The trade was a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,605 shares of company stock valued at $2,508,102. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kennebec Savings Bank bought a new position in shares of McDonald’s in the 3rd quarter valued at approximately $1,394,000. Charles Schwab Investment Management Inc. raised its position in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after purchasing an additional 49,106 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after buying an additional 2,997 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of McDonald’s during the 3rd quarter worth $16,870,000. Finally, PFW Advisors LLC acquired a new position in McDonald’s in the 4th quarter valued at $2,471,000. 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.