McDonald’s (NYSE:MCD) Given New $310.00 Price Target at Robert W. Baird

McDonald’s (NYSE:MCD) had its price objective increased by equities researchers at Robert W. Baird from $305.00 to $310.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the fast-food giant’s stock. Robert W. Baird’s price target would suggest a potential upside of 0.58% from the company’s previous close.

Several other research firms also recently issued reports on MCD. Morgan Stanley dropped their price target on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. BMO Capital Markets lifted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Bank of America lifted their target price on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler lowered their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, TD Cowen reissued a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.57.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $308.22 on Tuesday. The company’s 50 day moving average price is $290.70 and its two-hundred day moving average price is $291.16. The firm has a market capitalization of $220.88 billion, a P/E ratio of 27.06, a P/E/G ratio of 4.08 and a beta of 0.74. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. On average, analysts expect that McDonald’s will post 11.73 earnings per share for the current year.

Insider Activity

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock worth $2,150,857 over the last three months. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCD. Exchange Traded Concepts LLC boosted its stake in McDonald’s by 1.7% in the third quarter. Exchange Traded Concepts LLC now owns 2,513 shares of the fast-food giant’s stock valued at $765,000 after acquiring an additional 42 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in McDonald’s in the third quarter valued at about $1,472,000. VitalStone Financial LLC boosted its stake in McDonald’s by 148.8% in the third quarter. VitalStone Financial LLC now owns 311 shares of the fast-food giant’s stock valued at $95,000 after acquiring an additional 186 shares during the last quarter. CX Institutional raised its position in shares of McDonald’s by 65.8% in the third quarter. CX Institutional now owns 27,040 shares of the fast-food giant’s stock valued at $8,234,000 after purchasing an additional 10,733 shares during the period. Finally, Creative Planning raised its position in shares of McDonald’s by 1.4% in the third quarter. Creative Planning now owns 329,417 shares of the fast-food giant’s stock valued at $100,311,000 after purchasing an additional 4,480 shares during the period. 70.29% of the stock is currently owned by hedge funds and other 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, Russia, Spain, and the U.K.