Truist Financial Has Lowered Expectations for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price objective cut by equities research analysts at Truist Financial from $342.00 to $340.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s target price would suggest a potential upside of 9.70% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. BMO Capital Markets lifted their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley dropped their price target on McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Finally, Citigroup increased their target price on McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Price Performance

Shares of NYSE MCD traded up $1.53 during mid-day trading on Tuesday, reaching $309.95. The company’s stock had a trading volume of 2,075,271 shares, compared to its average volume of 3,157,017. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a fifty day moving average of $291.02 and a two-hundred day moving average of $291.56. The firm has a market capitalization of $222.12 billion, a PE ratio of 27.20, a P/E/G ratio of 4.08 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. Analysts anticipate 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 300 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock worth $2,150,857 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

Several institutional investors have recently bought and sold shares of MCD. Exchange Traded Concepts LLC raised its stake in shares of McDonald’s by 1.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,513 shares of the fast-food giant’s stock worth $765,000 after acquiring an additional 42 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of McDonald’s during the third quarter worth $1,472,000. VitalStone Financial LLC lifted its holdings in shares of McDonald’s by 148.8% during the 3rd quarter. VitalStone Financial LLC now owns 311 shares of the fast-food giant’s stock valued at $95,000 after purchasing an additional 186 shares during the last quarter. CX Institutional boosted its position in shares of McDonald’s by 65.8% in the 3rd quarter. CX Institutional now owns 27,040 shares of the fast-food giant’s stock worth $8,234,000 after purchasing an additional 10,733 shares in the last quarter. Finally, Creative Planning increased its position in McDonald’s by 1.4% during the 3rd quarter. Creative Planning now owns 329,417 shares of the fast-food giant’s stock valued at $100,311,000 after buying an additional 4,480 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 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.