McDonald’s (NYSE:MCD) PT Raised to $330.00 at KeyCorp

McDonald’s (NYSE:MCD) had its price objective lifted by analysts at KeyCorp from $305.00 to $330.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s price target indicates a potential upside of 9.31% from the company’s current price.

A number of other equities research analysts have also recently weighed in on MCD. Evercore ISI lifted their price target on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Barclays cut their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group lifted their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Loop Capital reaffirmed a “buy” rating and set a $342.00 price target on shares of McDonald’s in a report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.12.

McDonald’s Stock Up 0.3 %

Shares of MCD stock opened at $301.90 on Monday. The business has a 50 day moving average of $287.46 and a two-hundred day moving average of $271.84. McDonald’s has a 52 week low of $243.53 and a 52 week high of $306.96. The company has a market cap of $217.57 billion, a P/E ratio of 25.63, a PEG ratio of 3.99 and a beta of 0.73.

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

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,751 shares of company stock worth $9,493,973. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Several institutional investors and hedge funds have recently modified their holdings of MCD. Concentric Wealth Management LLC boosted its stake in shares of McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the last quarter. Founders Financial Alliance LLC lifted its position in shares of McDonald’s by 0.7% during the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after acquiring an additional 36 shares during the period. 9258 Wealth Management LLC lifted its position in shares of McDonald’s by 1.3% during the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after acquiring an additional 37 shares during the period. Cohen Investment Advisors LLC lifted its position in shares of McDonald’s by 0.4% during the 3rd quarter. Cohen Investment Advisors LLC now owns 10,049 shares of the fast-food giant’s stock valued at $3,060,000 after acquiring an additional 37 shares during the period. Finally, Independence Bank of Kentucky lifted its position in shares of McDonald’s by 1.3% during the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock valued at $821,000 after acquiring an additional 38 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.