McDonald’s (NYSE:MCD) Price Target Raised to $335.00

McDonald’s (NYSE:MCD) had its price objective boosted by equities research analysts at KeyCorp from $320.00 to $335.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s target price suggests a potential upside of 8.72% from the stock’s current price.

A number of other research firms have also recently issued reports on MCD. Truist Financial reduced their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Evercore ISI boosted their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research report on Friday, January 3rd. Wedbush boosted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays raised their price target on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.65.

McDonald’s Price Performance

NYSE:MCD opened at $308.14 on Tuesday. The stock’s 50-day moving average is $291.02 and its two-hundred day moving average is $291.56. The stock has a market cap of $220.82 billion, a PE ratio of 26.96, a price-to-earnings-growth 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 data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share 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, equities research analysts anticipate that McDonald’s will post 11.73 earnings per share for the current year.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,406 shares of company stock valued at $2,150,857. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McDonald’s

A number of hedge funds have recently made changes to their positions in MCD. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the third quarter valued at about $25,000. Atala Financial Inc bought a new stake in McDonald’s during the 4th quarter worth about $26,000. Comprehensive Financial Planning Inc. PA acquired a new position in McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial bought a new position in McDonald’s in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC grew its holdings in McDonald’s by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Company Profile

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.