McDonald’s (NYSE:MCD) Price Target Raised to $360.00 at Evercore ISI

McDonald’s (NYSE:MCD) had its price objective lifted by research analysts at Evercore ISI from $350.00 to $360.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the fast-food giant’s stock. Evercore ISI’s price target would indicate a potential upside of 17.79% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research note on Thursday, July 10th. Bank of America reduced their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Piper Sandler increased their target price on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays increased their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, KeyCorp reiterated an “overweight” rating and issued a $335.00 target price (up previously from $325.00) on shares of McDonald’s in a research note on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $326.87.

McDonald’s Price Performance

MCD stock opened at $305.62 on Friday. McDonald’s has a 52-week low of $265.33 and a 52-week high of $326.32. The company has a 50-day moving average of $298.57 and a two-hundred day moving average of $304.49. The stock has a market capitalization of $218.09 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 3.19 and a beta of 0.52.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company earned $2.97 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that McDonald’s will post 12.25 EPS for the current fiscal year.

Insider Transactions at McDonald’s

In other news, CMO Edith Morgan Flatley sold 976 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $303.50, for a total transaction of $296,216.00. Following the completion of the sale, the chief marketing officer owned 7,882 shares of the company’s stock, valued at approximately $2,392,187. This trade represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,280 shares of company stock valued at $2,215,178. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of McDonald’s

Hedge funds have recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald’s in the fourth quarter valued at approximately $25,000. Decker Retirement Planning Inc. increased its holdings in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of McDonald’s in the second quarter valued at approximately $25,000. HFM Investment Advisors LLC acquired a new stake in shares of McDonald’s in the first quarter valued at approximately $26,000. Finally, Nova Wealth Management Inc. acquired a new stake in shares of McDonald’s in the first quarter valued at approximately $26,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

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.