Bank of America Issues Positive Forecast for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price target hoisted by investment analysts at Bank of America from $312.00 to $316.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the fast-food giant’s stock. Bank of America‘s target price would indicate a potential upside of 2.77% from the company’s current price.

Several other analysts have also commented on MCD. TD Securities reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Monday. KeyCorp raised their price objective on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday. Wedbush increased their price target on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Truist Financial cut their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Trading Down 0.9 %

Shares of NYSE MCD opened at $307.47 on Tuesday. The company has a 50 day simple moving average of $291.33 and a two-hundred day simple moving average of $291.97. The stock has a market cap of $220.34 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.08 and a beta of 0.74. McDonald’s has a 12 month low of $243.53 and a 12 month high of $317.90.

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

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the business’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 completion of the transaction, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,406 shares of company stock worth $2,150,857 in the last ninety days. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Riversedge Advisors LLC lifted its stake in shares of McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC lifted its position in McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after buying an additional 35 shares during the last quarter. Clear Creek Financial Management LLC boosted its stake in McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after buying an additional 35 shares during the period. GDS Wealth Management increased its position in shares of McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after acquiring an additional 35 shares during 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 acquiring an additional 35 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

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.