McDonald’s Corporation (NYSE:MCD) Receives $334.45 Consensus Price Target from Brokerages

Shares of McDonald’s Corporation (NYSE:MCDGet Free Report) have earned an average recommendation of “Moderate Buy” from the thirty-two brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $334.4483.

MCD has been the subject of a number of analyst reports. Truist Financial lifted their price objective on McDonald’s from $356.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Robert W. Baird set a $305.00 price target on McDonald’s in a research note on Thursday, May 7th. Citigroup lifted their price objective on shares of McDonald’s from $371.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Wells Fargo & Company lowered their target price on shares of McDonald’s from $355.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings cut shares of McDonald’s from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, April 27th.

Read Our Latest Analysis on MCD

McDonald’s Price Performance

Shares of NYSE MCD opened at $282.34 on Friday. McDonald’s has a fifty-two week low of $271.98 and a fifty-two week high of $341.75. The firm has a market capitalization of $200.61 billion, a P/E ratio of 23.28, a P/E/G ratio of 2.75 and a beta of 0.43. The company’s 50 day simple moving average is $303.40 and its 200 day simple moving average is $309.85.

McDonald’s (NYSE:MCDGet Free Report) last issued its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, beating the consensus estimate of $2.74 by $0.09. The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.47 billion. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.67 EPS. Sell-side analysts expect that McDonald’s will post 12.94 EPS for the current fiscal year.

Key McDonald’s News

Here are the key news stories impacting McDonald’s this week:

Insider Buying and Selling at McDonald’s

In other news, EVP Jonathan Banner sold 6,201 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $333.29, for a total value of $2,066,731.29. Following the completion of the transaction, the executive vice president owned 2,291 shares in the company, valued at $763,567.39. This represents a 73.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 333 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $302.72, for a total value of $100,805.76. Following the transaction, the insider owned 8,067 shares of the company’s stock, valued at approximately $2,442,042.24. This trade represents a 3.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,119 shares of company stock worth $3,945,973 in the last ninety days. 0.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McDonald’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCD. Chesapeake Wealth Management boosted its holdings in McDonald’s by 1.1% in the 1st quarter. Chesapeake Wealth Management now owns 10,674 shares of the fast-food giant’s stock valued at $3,317,000 after purchasing an additional 117 shares during the period. Janus Henderson Group PLC increased its holdings in shares of McDonald’s by 119.9% during the first quarter. Janus Henderson Group PLC now owns 701,199 shares of the fast-food giant’s stock worth $217,930,000 after purchasing an additional 382,280 shares during the period. Bull Harbor Capital LLC acquired a new stake in shares of McDonald’s in the first quarter valued at approximately $238,000. Strategic Investment Advisors MI raised its position in shares of McDonald’s by 162.7% in the first quarter. Strategic Investment Advisors MI now owns 1,826 shares of the fast-food giant’s stock valued at $567,000 after buying an additional 1,131 shares in the last quarter. Finally, Ashton Thomas Securities LLC boosted its stake in shares of McDonald’s by 24.2% in the first quarter. Ashton Thomas Securities LLC now owns 2,481 shares of the fast-food giant’s stock valued at $773,000 after buying an additional 484 shares during the period. 70.29% of the stock is owned by institutional investors.

About McDonald’s

(Get Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

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Analyst Recommendations for McDonald's (NYSE:MCD)

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