Robert W. Baird Increases McDonald’s (NYSE:MCD) Price Target to $320.00

McDonald’s (NYSE:MCD) had its price target upped by research analysts at Robert W. Baird from $280.00 to $320.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the fast-food giant’s stock. Robert W. Baird’s price objective indicates a potential upside of 5.37% from the stock’s previous close.

MCD has been the topic of a number of other reports. TD Cowen reiterated a “hold” rating and set a $280.00 price target on shares of McDonald’s in a report on Monday, September 23rd. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. Loop Capital restated a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Tuesday, September 10th. Guggenheim boosted their target price on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, KeyCorp decreased their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $308.22.

McDonald’s Price Performance

NYSE MCD opened at $303.69 on Thursday. The company has a fifty day moving average price of $280.78 and a 200-day moving average price of $271.12. The firm has a market cap of $217.85 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.99 and a beta of 0.72. McDonald’s has a 1 year low of $243.53 and a 1 year high of $306.96.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the company posted $3.17 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts anticipate that McDonald’s will post 11.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,249 shares of company stock worth $9,865,866. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Several hedge funds have recently added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter valued at approximately $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s in the 4th quarter worth about $38,000. Kings Path Partners LLC purchased a new position in McDonald’s during the 2nd quarter valued at about $38,000. Accent Capital Management LLC bought a new stake in McDonald’s during the fourth quarter worth about $44,000. Finally, Transcendent Capital Group LLC purchased a new stake in McDonald’s in the fourth quarter worth about $45,000. Institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.