Citigroup Cuts McDonald’s (NYSE:MCD) Price Target to $353.00

McDonald’s (NYSE:MCD) had its price target cut by investment analysts at Citigroup from $360.00 to $353.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the fast-food giant’s stock. Citigroup’s price objective indicates a potential upside of 12.75% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Erste Group Bank raised McDonald’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Piper Sandler decreased their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Robert W. Baird boosted their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Loop Capital reiterated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Finally, Bank of America boosted their price target on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.30.

McDonald’s Trading Down 0.2 %

NYSE MCD opened at $313.08 on Thursday. The company has a market cap of $223.69 billion, a P/E ratio of 27.28, a P/E/G ratio of 3.10 and a beta of 0.71. McDonald’s has a 1 year low of $243.53 and a 1 year high of $326.32. The company has a fifty day simple moving average of $303.38 and a 200 day simple moving average of $298.56.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. Equities research analysts forecast that McDonald’s will post 12.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 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 27,497 shares of company stock worth $8,461,400 in the last 90 days. Corporate 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 MCD. Legacy Investment Solutions LLC acquired a new position in McDonald’s during the 3rd quarter valued at about $25,000. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald’s during the fourth quarter worth approximately $25,000. Atala Financial Inc acquired a new position in McDonald’s in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s in the fourth quarter valued at approximately $27,000. Finally, Collier Financial acquired a new stake in McDonald’s during the 4th quarter worth $29,000. Institutional investors and hedge funds 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, Spain, and the U.K.