McDonald’s (NYSE:MCD) Given New $300.00 Price Target at Robert W. Baird

McDonald’s (NYSE:MCD) had its target price dropped by equities research analysts at Robert W. Baird from $305.00 to $300.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the fast-food giant’s stock. Robert W. Baird’s price objective indicates a potential upside of 9.86% from the company’s current price.

MCD has been the subject of a number of other reports. UBS Group reduced their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Royal Bank of Canada lowered their price objective on McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Bank of America lifted their target price on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. TD Cowen reaffirmed a “buy” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Tuesday. Finally, Oppenheimer reissued a “market perform” rating on shares of McDonald’s in a report on Friday, January 5th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.93.

McDonald’s Price Performance

NYSE MCD opened at $273.07 on Wednesday. McDonald’s has a 1 year low of $245.73 and a 1 year high of $302.39. The company has a fifty day moving average price of $280.92 and a 200-day moving average price of $282.33. The firm has a market cap of $196.89 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.99 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.63 earnings per share. On average, research analysts anticipate that McDonald’s will post 12.34 EPS for the current fiscal year.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

A number of institutional investors and hedge funds have recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s during the 1st quarter valued at about $28,000. Signature Resources Capital Management LLC purchased a new position in shares of McDonald’s during the 4th quarter worth $31,000. Blue Bell Private Wealth Management LLC increased its stake in shares of McDonald’s by 51.9% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Spartan Planning & Wealth Management bought a new position in McDonald’s in the 3rd quarter worth $33,000. Finally, Clear Investment Research LLC bought a new stake in McDonald’s during the fourth quarter valued at about $38,000. 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.