McDonald’s (NYSE:MCD) PT Raised to $317.00 at Citigroup

McDonald’s (NYSE:MCD) had its price target hoisted by investment analysts at Citigroup from $301.00 to $317.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the fast-food giant’s stock. Citigroup’s price target would suggest a potential upside of 4.47% from the stock’s previous close.

A number of other analysts also recently issued reports on MCD. BMO Capital Markets reduced their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. KeyCorp reduced their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research note on Tuesday, September 10th. Morgan Stanley cut their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, TD Cowen reissued a “hold” rating and set a $280.00 target price on shares of McDonald’s in a research report on Monday, September 23rd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $309.15.

McDonald’s Trading Down 0.1 %

Shares of MCD opened at $303.45 on Wednesday. McDonald’s has a 12-month low of $243.53 and a 12-month high of $306.96. The business’s 50 day moving average is $285.63 and its 200 day moving average is $271.71. The company has a market capitalization of $218.69 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 3.99 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the firm earned $3.17 EPS. The business’s revenue was down .1% compared to the same quarter last year. Equities research analysts predict that McDonald’s will post 11.69 earnings per share for the current year.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,751 shares of company stock worth $9,493,973. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McDonald’s

Hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. purchased a new stake in shares of McDonald’s during the 2nd quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the last quarter. Brevan Howard Capital Management LP lifted its stake in shares of McDonald’s by 411.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after purchasing an additional 6,031 shares during the last quarter. BNP Paribas purchased a new stake in shares of McDonald’s during the 1st quarter worth $7,898,000. Finally, First Long Island Investors LLC increased its position in McDonald’s by 16.6% during the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after buying an additional 7,707 shares in 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.