McDonald’s (NYSE:MCD) Stock Price Expected to Rise, Citigroup Analyst Says

McDonald’s (NYSE:MCD) had its price objective boosted by research analysts at Citigroup from $336.00 to $360.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the fast-food giant’s stock. Citigroup’s price target would suggest a potential upside of 17.08% from the stock’s previous close.

A number of other research analysts also recently commented on MCD. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. KeyCorp dropped their target price on shares of McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Piper Sandler dropped their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Truist Financial decreased their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Trading Down 0.9 %

Shares of NYSE:MCD opened at $307.47 on Tuesday. The company’s 50 day moving average is $291.33 and its two-hundred day moving average is $291.97. The company has a market cap of $220.34 billion, a PE ratio of 26.99, a P/E/G ratio of 4.08 and a beta of 0.74. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. As a group, equities research analysts expect that McDonald’s will post 11.73 EPS for the current year.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares of the company’s stock, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock worth $2,150,857 over the last 90 days. Company insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in McDonald’s by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock valued at $20,341,391,000 after acquiring an additional 526,466 shares in the last quarter. Geode Capital Management LLC increased its holdings in McDonald’s by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock valued at $4,652,768,000 after acquiring an additional 157,458 shares in the last quarter. Wellington Management Group LLP increased its holdings in McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after acquiring an additional 128,800 shares in the last quarter. Norges Bank purchased a new position in McDonald’s during the 4th quarter valued at about $2,725,190,000. Finally, Bank of New York Mellon Corp increased its holdings in McDonald’s by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock valued at $1,682,473,000 after acquiring an additional 52,195 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.