McDonald’s (NYSE:MCD) Price Target Raised to $316.00

McDonald’s (NYSE:MCD) had its target price raised by analysts at Bank of America from $312.00 to $316.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the fast-food giant’s stock. Bank of America‘s price target points to a potential upside of 2.13% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Loop Capital reiterated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. KeyCorp boosted their price target on McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Piper Sandler cut their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.30.

McDonald’s Stock Performance

NYSE:MCD traded up $1.00 on Tuesday, hitting $309.42. 292,016 shares of the stock were exchanged, compared to its average volume of 3,094,173. The company’s 50-day moving average price is $291.02 and its 200 day moving average price is $291.56. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a market capitalization of $221.74 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 4.08 and a beta of 0.74.

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

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares in the company, 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. Over the last three months, insiders sold 7,406 shares of company stock valued at $2,150,857. 0.23% of the stock is owned by insiders.

Hedge Funds Weigh In On McDonald’s

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal London Asset Management Ltd. boosted its position in McDonald’s by 0.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 318,805 shares of the fast-food giant’s stock valued at $92,418,000 after buying an additional 1,316 shares during the period. Next Capital Management LLC boosted its holdings in McDonald’s by 4.1% in the fourth quarter. Next Capital Management LLC now owns 4,472 shares of the fast-food giant’s stock valued at $1,296,000 after acquiring an additional 176 shares in the last quarter. Generali Investments Management Co LLC purchased a new stake in shares of McDonald’s in the 4th quarter worth about $4,939,000. GM Advisory Group LLC increased its position in shares of McDonald’s by 14.7% during the fourth quarter. GM Advisory Group LLC now owns 2,386 shares of the fast-food giant’s stock valued at $692,000 after buying an additional 305 shares during the period. Finally, Stokes Family Office LLC lifted its holdings in McDonald’s by 41.6% in the fourth quarter. Stokes Family Office LLC now owns 8,396 shares of the fast-food giant’s stock worth $2,434,000 after buying an additional 2,465 shares during the period. Institutional investors 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.