McDonald’s (NYSE:MCD) Price Target Lowered to $320.00 at Truist Financial

McDonald’s (NYSE:MCD) had its target price dropped by equities researchers at Truist Financial from $337.00 to $320.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s price target indicates a potential upside of 16.55% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on MCD. StockNews.com cut McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, February 9th. UBS Group cut their price objective on McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. JPMorgan Chase & Co. lowered their price target on shares of McDonald’s from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday. Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. Finally, Morgan Stanley cut their price target on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $316.63.

McDonald’s Trading Up 0.0 %

MCD stock traded up $0.12 during mid-day trading on Thursday, hitting $274.55. The stock had a trading volume of 425,070 shares, compared to its average volume of 3,296,645. The firm has a fifty day simple moving average of $280.53 and a 200 day simple moving average of $282.27. McDonald’s has a 52 week low of $245.73 and a 52 week high of $302.39. The firm has a market capitalization of $197.95 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.98 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period last year, the business earned $2.63 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts expect that McDonald’s will post 12.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On McDonald’s

Large investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the first quarter valued at about $28,000. Signature Resources Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter worth approximately $31,000. Blue Bell Private Wealth Management LLC boosted 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 valued at $32,000 after purchasing an additional 42 shares in the last quarter. Spartan Planning & Wealth Management bought a new position in shares of McDonald’s during the 3rd quarter valued at $33,000. Finally, Clear Investment Research LLC purchased a new position in McDonald’s in the 4th quarter worth $38,000. Institutional investors own 70.29% of the company’s stock.

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.