BMO Capital Markets Increases McDonald’s (NYSE:MCD) Price Target to $360.00

McDonald’s (NYSE:MCD) had its price objective hoisted by equities researchers at BMO Capital Markets from $350.00 to $360.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the fast-food giant’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 14.54% from the stock’s previous close.

A number of other brokerages also recently weighed in on MCD. Guggenheim restated a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. Stifel Nicolaus boosted their target price on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Piper Sandler boosted their target price on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Bank of America dropped their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Finally, KeyCorp reiterated an “overweight” rating and issued a $335.00 price objective (up previously from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Twelve research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $325.35.

McDonald’s Stock Performance

MCD stock opened at $314.30 on Thursday. McDonald’s has a 52-week low of $276.53 and a 52-week high of $326.32. The business has a 50-day simple moving average of $303.87 and a two-hundred day simple moving average of $306.45. The company has a market capitalization of $224.28 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the business earned $2.97 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that McDonald’s will post 12.25 earnings per share for the current fiscal year.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,341 shares of company stock worth $2,544,327. 0.25% of the stock is owned by insiders.

Institutional Trading of McDonald’s

Institutional investors and hedge funds have recently bought and sold shares of the stock. WealthPlan Investment Management LLC increased its holdings in shares of McDonald’s by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after buying an additional 32 shares during the last quarter. Granite Bay Wealth Management LLC increased its holdings in shares of McDonald’s by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after buying an additional 33 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of McDonald’s by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock worth $560,000 after buying an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC increased its holdings in shares of McDonald’s by 2.5% in the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock worth $417,000 after buying an additional 33 shares during the last quarter. Finally, Security Financial Services INC. increased its holdings in shares of McDonald’s by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after buying an additional 33 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

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.