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

Posted by on Apr 28th, 2023

McDonald’s (NYSE:MCD – Get Rating) had its price target increased by Royal Bank of Canada from $300.00 to $316.00 in a research report issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the fast-food giant’s stock. Royal Bank of Canada’s price target points to a potential upside of 7.22% from the company’s current price.

MCD has been the topic of several other research reports. Northcoast Research raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $321.00 price objective on the stock in a research note on Monday, April 10th. TD Cowen increased their price objective on shares of McDonald’s from $293.00 to $299.00 and gave the stock an “outperform” rating in a research report on Friday, March 24th. Guggenheim raised their price target on shares of McDonald’s from $305.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $280.00 price target on shares of McDonald’s in a report on Wednesday, February 1st. Finally, Loop Capital raised their price objective on shares of McDonald’s from $328.00 to $346.00 in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $306.83.

McDonald’s Price Performance

Shares of MCD opened at $294.72 on Wednesday. The firm has a fifty day moving average price of $275.95 and a 200 day moving average price of $269.89. McDonald’s has a 1-year low of $228.34 and a 1-year high of $295.05. The stock has a market cap of $215.15 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 3.42 and a beta of 0.63.

McDonald’s (NYSE:MCD – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The fast-food giant reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. McDonald’s had a net margin of 29.36% and a negative return on equity of 122.21%. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.58 billion. During the same period in the previous year, the business posted $2.28 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts expect that McDonald’s will post 10.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,396 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $265.44, for a total transaction of $370,554.24. Following the sale, the executive vice president now directly owns 308 shares in the company, valued at $81,755.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Marion K. Gross sold 1,396 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $265.44, for a total transaction of $370,554.24. Following the transaction, the executive vice president now directly owns 308 shares of the company’s stock, valued at $81,755.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 3,850 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $267.69, for a total value of $1,030,606.50. Following the completion of the sale, the chief executive officer now directly owns 34,637 shares of the company’s stock, valued at $9,271,978.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,122 shares of company stock valued at $2,177,681. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Osterweis Capital Management Inc. purchased a new stake in shares of McDonald’s in the 4th quarter valued at about $25,000. Piershale Financial Group Inc. bought a new stake in shares of McDonald’s in the 4th quarter worth approximately $26,000. JDM Financial Group LLC bought a new stake in shares of McDonald’s in the 4th quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of McDonald’s during the first quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates bought a new stake in McDonald’s in the fourth quarter worth $35,000. Institutional investors own 66.86% of the company’s stock.

About McDonald’s

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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.

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