KeyCorp Raises McDonald’s (NYSE:MCD) Price Target to $335.00

McDonald’s (NYSE:MCD) had its price objective raised by investment analysts at KeyCorp from $320.00 to $335.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s target price would suggest a potential upside of 8.95% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Evercore ISI upped their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Bank of America boosted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Piper Sandler dropped their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. TD Securities reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Monday. Finally, JPMorgan Chase & Co. upped their target price on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Trading Down 0.9 %

Shares of MCD opened at $307.47 on Tuesday. The firm has a market capitalization of $220.34 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.08 and a beta of 0.74. The firm’s fifty day simple moving average is $291.33 and its 200-day simple moving average is $291.97. McDonald’s has a twelve month low of $243.53 and a twelve month high of $317.90.

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

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the transaction, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. This trade represents a 49.00 % 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 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MCD. Legacy Investment Solutions LLC acquired a new position in McDonald’s in the 3rd quarter valued at $25,000. Atala Financial Inc purchased a new stake in shares of McDonald’s during the 4th quarter worth about $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial acquired a new position in McDonald’s during the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC boosted its holdings in McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.