McDonald’s (NYSE:MCD) Price Target Raised to $340.00

McDonald’s (NYSE:MCD) had its target price boosted by equities research analysts at KeyCorp from $335.00 to $340.00 in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s price target suggests a potential upside of 10.77% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley dropped their price objective on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a report on Monday, March 17th. TD Securities reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Monday, February 10th. Wedbush raised their target price on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Robert W. Baird upped their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Finally, Truist Financial decreased their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Stock Performance

NYSE:MCD opened at $306.95 on Thursday. McDonald’s has a 52 week low of $243.53 and a 52 week high of $326.32. The firm’s 50-day simple moving average is $301.52 and its 200 day simple moving average is $298.10. The firm has a market cap of $219.31 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Sell-side analysts anticipate that McDonald’s will post 12.25 EPS for the current year.

Insider Activity

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This represents a 24.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the transaction, the executive vice president now owns 5,564 shares in the company, valued at $1,720,778.28. This trade represents a 15.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,405 shares of company stock valued at $9,886,656. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Large investors have recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in McDonald’s during the 3rd quarter worth about $25,000. Mascagni Wealth Management Inc. bought a new stake in McDonald’s in the fourth quarter worth approximately $25,000. Atala Financial Inc bought a new stake in McDonald’s in the fourth quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of McDonald’s during the 4th quarter worth approximately $27,000. Finally, Collier Financial acquired a new stake in shares of McDonald’s during the 4th quarter worth approximately $29,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

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, Spain, and the U.K.