Mcdonald’s (MCD) Price Target Raised to $230.00 at SunTrust Banks

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Mcdonald’s (NYSE:MCD) had its target price boosted by SunTrust Banks to $230.00 in a research report released on Wednesday, The Fly reports. SunTrust Banks currently has a buy rating on the fast-food giant’s stock. SunTrust Banks also issued estimates for Mcdonald’s’ Q2 2019 earnings at $2.15 EPS, Q1 2020 earnings at $1.89 EPS, Q2 2020 earnings at $2.30 EPS, Q3 2020 earnings at $2.43 EPS and Q4 2020 earnings at $2.03 EPS.

Other equities research analysts have also issued reports about the stock. Robert W. Baird boosted their target price on shares of Mcdonald’s from $196.00 to $205.00 in a research report on Monday, April 1st. Bank of America boosted their target price on shares of Mcdonald’s from $200.00 to $215.00 and gave the stock a buy rating in a research report on Wednesday. Royal Bank of Canada restated a buy rating and set a $205.00 target price on shares of Mcdonald’s in a research report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Mcdonald’s from a sell rating to a hold rating in a research report on Monday, April 15th. Finally, Longbow Research lowered shares of Mcdonald’s from a buy rating to a neutral rating and decreased their target price for the stock from $200.00 to $197.00 in a research report on Wednesday. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $202.39.

NYSE:MCD traded down $0.24 during midday trading on Wednesday, reaching $193.93. The stock had a trading volume of 39,538 shares, compared to its average volume of 2,426,060. The firm has a market cap of $150.84 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 2.78 and a beta of 0.54. Mcdonald’s has a 12-month low of $153.13 and a 12-month high of $200.00.

Mcdonald’s (NYSE:MCD) last issued its earnings results on Tuesday, April 30th. The fast-food giant reported $1.72 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.01). The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Mcdonald’s had a negative return on equity of 96.25% and a net margin of 28.20%. Mcdonald’s’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 earnings per share. As a group, equities research analysts anticipate that Mcdonald’s will post 8.09 earnings per share for the current year.

In related news, EVP David Ogden Fairhurst sold 76,411 shares of the business’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $178.25, for a total value of $13,620,260.75. Following the completion of the transaction, the executive vice president now owns 12,110 shares of the company’s stock, valued at approximately $2,158,607.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine A. Hoovel sold 1,328 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $175.95, for a total transaction of $233,661.60. Following the completion of the transaction, the vice president now directly owns 2,499 shares of the company’s stock, valued at approximately $439,699.05. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Aldebaran Financial Inc. increased its stake in shares of Mcdonald’s by 0.7% during the 1st quarter. Aldebaran Financial Inc. now owns 7,325 shares of the fast-food giant’s stock valued at $1,391,000 after acquiring an additional 53 shares during the last quarter. New Capital Management LP increased its stake in shares of Mcdonald’s by 33.1% during the 4th quarter. New Capital Management LP now owns 221 shares of the fast-food giant’s stock valued at $39,000 after acquiring an additional 55 shares during the last quarter. Ipswich Investment Management Co. Inc. increased its stake in shares of Mcdonald’s by 0.5% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 11,823 shares of the fast-food giant’s stock valued at $2,099,000 after acquiring an additional 56 shares during the last quarter. Biegel & Waller LLC increased its stake in shares of Mcdonald’s by 3.6% during the 1st quarter. Biegel & Waller LLC now owns 1,609 shares of the fast-food giant’s stock valued at $306,000 after acquiring an additional 56 shares during the last quarter. Finally, Old Port Advisors increased its stake in shares of Mcdonald’s by 4.9% during the 1st quarter. Old Port Advisors now owns 1,232 shares of the fast-food giant’s stock valued at $234,000 after acquiring an additional 58 shares during the last quarter. 69.00% of the stock is owned by hedge funds and other institutional investors.

Mcdonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.

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