Robert W. Baird Raises McDonald’s (NYSE:MCD) Price Target to $320.00

McDonald’s (NYSE:MCD) had its target price boosted by equities researchers at Robert W. Baird from $280.00 to $320.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the fast-food giant’s stock. Robert W. Baird’s target price would indicate a potential upside of 5.37% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI upped their target price on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. increased their price objective 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. Bank of America lowered their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Finally, BMO Capital Markets lowered their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.22.

McDonald’s Stock Up 0.0 %

NYSE:MCD opened at $303.69 on Thursday. The stock has a market cap of $217.85 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.99 and a beta of 0.72. The company’s 50 day moving average price is $280.78 and its 200-day moving average price is $271.12. McDonald’s has a 52 week low of $243.53 and a 52 week high of $306.96.

McDonald’s (NYSE:MCD) last issued its earnings results 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the business posted $3.17 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that McDonald’s will post 11.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $2,833,755.00. Following the sale, the chief executive officer now directly owns 43,256 shares in the company, valued at $13,193,080. The disclosure for this sale can be found here. Insiders sold 33,249 shares of company stock worth $9,865,866 in the last three months. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s in the 1st quarter worth $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s in the 4th quarter valued at about $38,000. Kings Path Partners LLC purchased a new position in McDonald’s in the second quarter worth about $38,000. Accent Capital Management LLC bought a new stake in McDonald’s during the fourth quarter worth approximately $44,000. Finally, Transcendent Capital Group LLC purchased a new stake in McDonald’s during the fourth quarter valued at approximately $45,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Company Profile

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.