Piper Sandler Cuts McDonald’s (NYSE:MCD) Price Target to $290.00

McDonald’s (NYSE:MCD) had its price objective cut by equities researchers at Piper Sandler from $297.00 to $290.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the fast-food giant’s stock. Piper Sandler’s target price would suggest a potential downside of 0.09% from the company’s previous close.

A number of other research firms also recently commented on MCD. Bank of America increased their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. BMO Capital Markets increased their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $319.58.

McDonald’s Price Performance

Shares of NYSE MCD opened at $290.25 on Tuesday. McDonald’s has a one year low of $243.53 and a one year high of $317.90. The business’s 50-day moving average price is $291.12 and its two-hundred day moving average price is $289.94. The company has a market capitalization of $208.00 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 3.83 and a beta of 0.74.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. This trade represents a 49.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the completion of the sale, the insider now directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock worth $2,150,857 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Several institutional investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new stake in shares of McDonald’s in the 3rd quarter valued at $25,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s during the fourth quarter worth about $27,000. Collier Financial acquired a new stake in shares of McDonald’s during the fourth quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McDonald’s in the third quarter valued at approximately $31,000. Finally, Marshall Investment Management LLC acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds 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.