McDonald’s Corp. (NYSE:MCD) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $128.73 price target on the fast-food giant’s stock. Vetr‘s target price would indicate a potential upside of 5.77% from the stock’s current price.
A number of hedge funds recently made changes to their positions in the stock. Capital World Investors raised its stake 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 in the last quarter. Norges Bank bought a new stake in shares of McDonald’s Corp. during the fourth quarter valued at approximately $1,005,606,000. BlackRock Group LTD raised its stake 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 in the last quarter. Geode Capital Management LLC raised its stake 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 in the last quarter. Finally, Jennison Associates LLC raised its stake 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 in the last quarter.
In related news, insider Brian Mullens sold 845 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was 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 SEC, which is accessible through this link.
McDonald’s Corp. (NYSE:MCD) last issued its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the business posted $1.26 earnings per share. McDonald’s Corp.’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts predict that McDonald’s Corp. will post $5.53 earnings per share for the current year.
Other research analysts have also issued reports about the company. Citigroup Inc. reissued a “hold” rating on shares of McDonald’s Corp. in a report on Saturday, April 23rd. Deutsche Bank AG reaffirmed a “buy” rating on shares of McDonald’s Corp. in a report on Sunday, April 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $127.00 target price on shares of McDonald’s Corp. in a report on Saturday, April 2nd. Zacks Investment Research lowered McDonald’s Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Finally, Nomura lowered McDonald’s Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $127.97.
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.
