McDonald’s (NYSE:MCD) Price Target Lowered to $320.00 at KeyCorp

McDonald’s (NYSE:MCD) had its target price dropped by KeyCorp from $330.00 to $320.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s price objective points to a potential upside of 11.95% from the company’s previous close.

MCD has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Bank of America boosted their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Evercore ISI boosted their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, TD Cowen restated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research report on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $320.78.

McDonald’s Trading Up 0.5 %

Shares of McDonald’s stock traded up $1.42 on Friday, reaching $285.85. 845,419 shares of the stock were exchanged, compared to its average volume of 2,940,791. The firm has a market capitalization of $204.85 billion, a PE ratio of 25.12, a PEG ratio of 3.66 and a beta of 0.73. McDonald’s has a 1-year low of $243.53 and a 1-year high of $317.90. The business has a fifty day moving average price of $291.21 and a two-hundred day moving average price of $287.88.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts expect that McDonald’s will post 11.72 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,605 shares of company stock valued at $2,508,102. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in McDonald’s in the third quarter valued at $25,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McDonald’s in the 3rd quarter valued at about $31,000. Hara Capital LLC acquired a new stake in shares of McDonald’s in the 3rd quarter valued at about $44,000. Peterson Financial Group Inc. acquired a new position in McDonald’s in the third quarter worth about $58,000. Finally, FSA Wealth Management LLC bought a new stake in McDonald’s in the third quarter valued at about $72,000. 70.29% of the stock is owned by institutional investors and hedge funds.

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.