McDonald’s (NYSE:MCD) Price Target Cut to $342.00 by Analysts at Truist Financial

McDonald’s (NYSE:MCD) had its target price dropped by Truist Financial from $350.00 to $342.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s target price points to a potential upside of 17.06% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Stifel Nicolaus dropped their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. KeyCorp upped their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $292.17 on Wednesday. The firm has a market cap of $209.59 billion, a PE ratio of 25.56, a PEG ratio of 4.13 and a beta of 0.73. The firm has a fifty day moving average of $298.25 and a 200 day moving average of $275.58. McDonald’s has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that McDonald’s will post 11.73 EPS for the current fiscal year.

Insider Transactions at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’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 transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’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 transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its stake in McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors increased its stake in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. increased its stake in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. Capital World Investors increased its stake in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.