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

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

MCD has been the topic of several other research reports. Stifel Nicolaus dropped their target price on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Stephens reissued an “overweight” rating and set a $320.00 target price on shares of McDonald’s in a research report on Monday, February 5th. UBS Group dropped their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. TD Cowen restated a “buy” rating and set a $305.00 price objective on shares of McDonald’s in a research note on Tuesday. Finally, StockNews.com cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $316.63.

McDonald’s Stock Up 0.0 %

Shares of McDonald’s stock traded up $0.12 on Thursday, reaching $274.55. The stock had a trading volume of 425,070 shares, compared to its average volume of 3,296,645. The company has a 50 day moving average price of $280.53 and a 200 day moving average price of $282.27. McDonald’s has a 1 year low of $245.73 and a 1 year high of $302.39. The stock 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 earnings results 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). The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 EPS. On average, analysts forecast that McDonald’s will post 12.34 earnings per share for the current fiscal year.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at this link. In related 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 transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a document filed with the SEC, which is available at 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 sale, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCD. Legacy Financial Group LLC purchased a new stake in shares of McDonald’s during the 3rd quarter worth about $121,000. Summit Financial Strategies Inc. lifted its position in McDonald’s by 30.1% during the 3rd quarter. Summit Financial Strategies Inc. now owns 1,954 shares of the fast-food giant’s stock worth $515,000 after acquiring an additional 452 shares in the last quarter. Total Investment Management Inc. lifted its position in McDonald’s by 5.2% during the 3rd quarter. Total Investment Management Inc. now owns 1,238 shares of the fast-food giant’s stock worth $326,000 after acquiring an additional 61 shares in the last quarter. Aspire Capital Advisors LLC acquired a new position in McDonald’s during the 3rd quarter worth approximately $355,000. Finally, Bouchey Financial Group Ltd lifted its position in McDonald’s by 2.2% during the 3rd quarter. Bouchey Financial Group Ltd now owns 2,325 shares of the fast-food giant’s stock worth $613,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

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.