McDonald’s Corp. (NYSE:MCD) has been assigned a $112.00 price target by equities researchers at Goldman Sachs Group Inc. in a research note issued on Wednesday. The brokerage currently has a a “neutral” rating on the fast-food giant’s stock. Goldman Sachs Group Inc.’s price target would indicate a potential downside of 7.98% from the stock’s previous close.
Several other brokerages also recently commented on MCD. Nomura downgraded McDonald’s Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the company from $142.00 to $129.00 in a research note on Wednesday, June 22nd. RBC Capital Markets restated a “buy” rating and issued a $140.00 target price on shares of McDonald’s Corp. in a research note on Friday, July 22nd. Zacks Investment Research downgraded McDonald’s Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Evercore ISI began coverage on McDonald’s Corp. in a research note on Monday, April 4th. They issued a “hold” rating for the company. Finally, Credit Agricole SA restated a “sell” rating and issued a $128.00 target price on shares of McDonald’s Corp. in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. McDonald’s Corp. presently has a consensus rating of “Hold” and an average price target of $127.61.
A number of hedge funds and institutional investors recently made changes to their positions in the company. Capital World Investors raised its position in shares of McDonald’s Corp. by 85.4% in the fourth quarter. Capital World Investors now owns 30,881,418 shares of the fast-food giant’s stock valued at $3,648,331,000 after buying an additional 14,226,904 shares during the period. Norges Bank bought a new position in shares of McDonald’s Corp. during the fourth quarter valued at about $1,005,606,000. BlackRock Group LTD raised its position in shares of McDonald’s Corp. by 1.1% in the first quarter. BlackRock Group LTD now owns 8,204,193 shares of the fast-food giant’s stock valued at $1,031,103,000 after buying an additional 89,886 shares during the period. Geode Capital Management LLC raised its position in shares of McDonald’s Corp. by 4.0% in the first quarter. Geode Capital Management LLC now owns 7,789,916 shares of the fast-food giant’s stock valued at $977,173,000 after buying an additional 302,511 shares during the period. Finally, Jennison Associates LLC raised its position in shares of McDonald’s Corp. by 255.4% in the fourth quarter. Jennison Associates LLC now owns 7,780,691 shares of the fast-food giant’s stock valued at $919,211,000 after buying an additional 5,591,608 shares during the period.
McDonald’s Corp. (NYSE:MCD) last announced its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.06. During the same period in the prior year, the business earned $1.26 earnings per share. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.28 billion. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts expect that McDonald’s Corp. will post $5.55 earnings per share for the current fiscal year.
In related news, insider Brian Mullens sold 845 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $128.93, for a total value of $108,945.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate.
