McDonald’s (NYSE:MCD) Price Target Cut to $330.00

McDonald’s (NYSE:MCD) had its price objective reduced by equities researchers at BMO Capital Markets from $335.00 to $330.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the fast-food giant’s stock. BMO Capital Markets’ target price would indicate a potential upside of 20.85% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Barclays dropped their price target on shares of McDonald’s from $343.00 to $340.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. BTIG Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Evercore ISI reissued an “outperform” rating and set a $330.00 price target on shares of McDonald’s in a report on Wednesday, March 27th. Wedbush reduced their price objective on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Stifel Nicolaus reduced their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $316.93.

McDonald’s Stock Down 0.2 %

McDonald’s stock opened at $273.07 on Wednesday. McDonald’s has a 52-week low of $245.73 and a 52-week high of $302.39. The company has a market cap of $196.89 billion, a P/E ratio of 23.60, a P/E/G ratio of 2.99 and a beta of 0.71. The business has a 50-day simple moving average of $280.92 and a two-hundred day simple moving average of $282.33.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the previous year, the company earned $2.63 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Research analysts anticipate that McDonald’s will post 12.34 EPS for the current fiscal year.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in McDonald’s during the 4th quarter worth about $2,684,899,000. Gallagher Fiduciary Advisors LLC lifted its holdings in shares of McDonald’s by 141,160.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. International Assets Investment Management LLC boosted its position in McDonald’s by 10,702.5% in the fourth quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after buying an additional 2,154,297 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after buying an additional 987,099 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in McDonald’s in the 3rd quarter worth approximately $192,165,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Company Profile

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.