McDonald’s (NYSE:MCD) PT Raised to $300.00 at TD Cowen

McDonald’s (NYSE:MCD) had its price target increased by stock analysts at TD Cowen from $280.00 to $300.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the fast-food giant’s stock. TD Cowen’s price objective points to a potential downside of 4.09% from the company’s current price.

Several other equities analysts have also recently weighed in on MCD. UBS Group raised their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Tigress Financial raised their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Guggenheim raised their target price on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Truist Financial lifted their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $315.69.

McDonald’s Stock Down 0.2 %

MCD stock traded down $0.56 during trading on Wednesday, reaching $312.78. The company’s stock had a trading volume of 942,015 shares, compared to its average volume of 3,357,828. The company’s fifty day moving average is $291.90 and its 200-day moving average is $272.91. McDonald’s has a 1 year low of $243.53 and a 1 year high of $315.36. The company has a market capitalization of $225.41 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the business posted $3.17 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts anticipate that McDonald’s will post 11.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McDonald’s

Hedge funds have recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the 1st quarter valued at about $28,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the second quarter valued at approximately $38,000. Keener Financial Planning LLC increased its holdings in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new position in McDonald’s during the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter valued at approximately $65,000. 70.29% of the stock is owned by institutional investors and hedge funds.

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.