TD Cowen Has Lowered Expectations for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price objective dropped by research analysts at TD Cowen from $330.00 to $300.00 in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a “hold” rating on the fast-food giant’s stock. TD Cowen’s price target would suggest a potential upside of 8.85% from the company’s current price.

A number of other brokerages have also recently issued reports on MCD. Guggenheim reduced their price objective on McDonald’s from $325.00 to $320.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Royal Bank Of Canada boosted their price objective on McDonald’s from $320.00 to $330.00 and gave the stock a “sector perform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $305.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. KeyCorp reduced their price objective on McDonald’s from $354.00 to $345.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Finally, Citigroup boosted their price objective on McDonald’s from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Seventeen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $335.14.

McDonald’s Stock Down 2.8%

Shares of NYSE MCD opened at $275.62 on Thursday. McDonald’s has a twelve month low of $274.83 and a twelve month high of $341.75. The company has a market cap of $195.92 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.63 and a beta of 0.43. The business’s 50 day moving average price is $311.40 and its two-hundred day moving average price is $311.40.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a negative return on equity of 395.08% and a net margin of 31.62%.The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the company posted $2.67 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that McDonald’s will post 13.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 4,692 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $331.00, for a total value of $1,553,052.00. Following the completion of the sale, the chief marketing officer directly owned 6,200 shares in the company, valued at approximately $2,052,200. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan Banner sold 6,201 shares of the business’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 sale, the executive vice president owned 2,291 shares of the company’s stock, valued at approximately $763,567.39. This trade represents a 73.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 71,990 shares of company stock valued at $23,824,113. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McDonald’s

Several institutional investors have recently made changes to their positions in MCD. Norges Bank acquired a new position in McDonald’s during the fourth quarter valued at approximately $2,890,438,000. Diamant Asset Management Inc. raised its position in McDonald’s by 30,979.0% during the first quarter. Diamant Asset Management Inc. now owns 2,596,340 shares of the fast-food giant’s stock valued at $806,917,000 after purchasing an additional 2,587,986 shares in the last quarter. J. Stern & Co. LLP raised its position in McDonald’s by 9,867.5% during the fourth quarter. J. Stern & Co. LLP now owns 2,541,008 shares of the fast-food giant’s stock valued at $776,608,000 after purchasing an additional 2,515,515 shares in the last quarter. Viking Global Investors LP raised its position in McDonald’s by 171.7% during the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after purchasing an additional 1,974,998 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in McDonald’s by 36.6% during the third quarter. Franklin Resources Inc. now owns 4,396,837 shares of the fast-food giant’s stock valued at $1,336,155,000 after purchasing an additional 1,179,244 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Trending Headlines about McDonald’s

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

• Positive Sentiment: McDonald’s beat Q1 earnings and revenue estimates, with EPS of $2.83 and revenue of $6.52 billion, helping reassure investors that the brand is still executing well in a tougher consumer environment. Article Title
• Positive Sentiment: Global comparable sales rose 3.8%, supported by value meals, loyalty spending, and new menu items such as the Big Arch burger and specialty drinks, showing McDonald’s value push is driving traffic and sales growth. Article Title
• Positive Sentiment: Several analysts kept bullish ratings even as they trimmed price targets, reflecting confidence that McDonald’s can keep gaining share and recover if consumer demand stabilizes. Article Title

About McDonald’s

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.