Truist Financial Issues Pessimistic Forecast for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price target decreased by stock analysts at Truist Financial from $350.00 to $342.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s target price suggests a potential upside of 17.06% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Stifel Nicolaus cut their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Bank of America raised their target price on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Barclays raised their target price on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Price Performance

MCD stock opened at $292.17 on Wednesday. The company has a market capitalization of $209.59 billion, a PE ratio of 25.56, a P/E/G ratio of 4.13 and a beta of 0.73. McDonald’s has a 12 month low of $243.53 and a 12 month high of $317.90. The firm’s 50-day moving average is $298.25 and its 200 day moving average is $275.58.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 EPS. Sell-side analysts forecast that McDonald’s will post 11.73 EPS for the current fiscal year.

Insider Buying and Selling at McDonald’s

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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,097 shares of company stock worth $10,256,818. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Several large investors have recently made changes to their positions in the company. AIA Group Ltd lifted its stake in shares of McDonald’s by 390.9% in the 3rd quarter. AIA Group Ltd now owns 12,252 shares of the fast-food giant’s stock valued at $3,731,000 after purchasing an additional 9,756 shares during the period. First National Bank & Trust Co. of Newtown lifted its stake in shares of McDonald’s by 1.1% in the 3rd quarter. First National Bank & Trust Co. of Newtown now owns 12,464 shares of the fast-food giant’s stock valued at $3,795,000 after purchasing an additional 133 shares during the period. Hudson Value Partners LLC lifted its stake in shares of McDonald’s by 3.7% in the 3rd quarter. Hudson Value Partners LLC now owns 13,852 shares of the fast-food giant’s stock valued at $4,218,000 after purchasing an additional 497 shares during the period. Lifestyle Asset Management Inc. acquired a new position in shares of McDonald’s in the 3rd quarter valued at $224,000. Finally, TFB Advisors LLC lifted its stake in shares of McDonald’s by 3.6% in the 3rd quarter. TFB Advisors LLC now owns 1,863 shares of the fast-food giant’s stock valued at $567,000 after purchasing an additional 64 shares during the period. 70.29% of the stock is currently 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.