McDonald’s’ (MCD) “Outperform” Rating Reiterated at Wedbush

McDonald’s (NYSE:MCD)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $295.00 price objective on the fast-food giant’s stock. Wedbush’s target price indicates a potential downside of 6.25% from the company’s previous close.

Several other equities analysts also recently commented on MCD. Citigroup upped their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday. Loop Capital restated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Truist Financial upped their price target on shares of McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Barclays increased their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $318.22.

McDonald’s Price Performance

NYSE:MCD opened at $314.65 on Wednesday. McDonald’s has a one year low of $243.53 and a one year high of $317.90. The company has a market cap of $226.76 billion, a P/E ratio of 26.71, a P/E/G ratio of 4.05 and a beta of 0.73. The firm’s fifty day moving average price is $296.41 and its two-hundred day moving average price is $274.34.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the firm earned $3.17 earnings per share. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts expect that McDonald’s will post 11.71 earnings per share for the current year.

Insider Activity at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction 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 sale, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,998 shares of company stock worth $9,935,493 in the last quarter. 0.23% of the stock is owned by insiders.

Institutional Trading of McDonald’s

Several hedge funds have recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the 1st quarter valued at $28,000. Kings Path Partners LLC bought a new stake in McDonald’s during the 2nd quarter valued at $38,000. Keener Financial Planning LLC increased its stake in McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in McDonald’s during the 2nd quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth $65,000. Institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.