McDonald’s (NYSE:MCD) Given New $360.00 Price Target at Citigroup

McDonald’s (NYSE:MCD) had its price objective increased by analysts at Citigroup from $336.00 to $360.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the fast-food giant’s stock. Citigroup’s target price would indicate a potential upside of 16.80% from the stock’s previous close.

Several other brokerages have also commented on MCD. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. Piper Sandler reduced their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley dropped their target price on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Evercore ISI raised their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.70.

McDonald’s Stock Performance

NYSE:MCD opened at $308.22 on Tuesday. The company has a market capitalization of $220.88 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 4.08 and a beta of 0.74. The company has a 50-day moving average of $290.70 and a 200-day moving average of $291.16. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. Sell-side analysts forecast that McDonald’s will post 11.73 EPS for the current year.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the 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 sale, the insider now directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $453,882. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,406 shares of company stock worth $2,150,857. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Institutional investors have recently modified their holdings of the business. Riversedge Advisors LLC lifted its stake in McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC lifted its position in McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares in the last quarter. Clear Creek Financial Management LLC boosted its stake in McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after purchasing an additional 35 shares during the period. GDS Wealth Management increased its holdings in McDonald’s by 1.4% during the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after purchasing an additional 35 shares in the last quarter. Finally, Boltwood Capital Management raised its stake in shares of McDonald’s by 1.9% in the 4th quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock valued at $546,000 after purchasing an additional 35 shares during the period. Institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.