Piper Sandler Cuts McDonald’s (NYSE:MCD) Price Target to $290.00

McDonald’s (NYSE:MCD) had its price target cut by equities researchers at Piper Sandler from $297.00 to $290.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the fast-food giant’s stock. Piper Sandler’s target price would indicate a potential downside of 0.09% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. KeyCorp reduced their price target on shares of McDonald’s from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, Loop Capital reissued a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Eleven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $319.58.

McDonald’s Stock Up 0.5 %

Shares of NYSE:MCD opened at $290.25 on Tuesday. The company has a market cap of $208.00 billion, a PE ratio of 25.48, a P/E/G ratio of 3.83 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. The firm has a 50-day simple moving average of $291.12 and a 200 day simple moving average of $289.94.

Insider Buying and Selling

In other McDonald’s news, 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 sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $453,882. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the sale, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock worth $2,150,857 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McDonald’s

Several hedge funds have recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s in the third quarter valued at $25,000. Comprehensive Financial Planning Inc. PA acquired a new position in McDonald’s during the fourth quarter valued at $27,000. Collier Financial purchased a new stake in McDonald’s in the 4th quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s in the 3rd quarter worth about $31,000. Finally, Marshall Investment Management LLC acquired a new stake in McDonald’s during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

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.