McDonald’s (NYSE:MCD – Get Rating) had its price target lifted by equities research analysts at Credit Suisse Group from $300.00 to $320.00 in a research note issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the fast-food giant’s stock. Credit Suisse Group’s price objective points to a potential upside of 8.58% from the company’s current price.
A number of other brokerages have also recently commented on MCD. Guggenheim increased their price objective on shares of McDonald’s from $302.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, March 29th. Royal Bank of Canada lowered their price objective on shares of McDonald’s from $296.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Barclays raised their price target on shares of McDonald’s from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wedbush raised their price target on shares of McDonald’s from $315.00 to $330.00 in a research note on Tuesday. Finally, Oppenheimer raised their price target on shares of McDonald’s from $304.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, April 13th. Five equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target of $306.83.
McDonald’s Trading Up 1.7 %
Shares of NYSE MCD opened at $294.72 on Wednesday. The stock has a market cap of $215.15 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 3.42 and a beta of 0.63. McDonald’s has a 52 week low of $228.34 and a 52 week high of $295.05. The company’s 50-day moving average price is $275.95 and its 200 day moving average price is $269.89.
Insider Activity
In other news, CEO Christopher J. Kempczinski sold 3,850 shares of McDonald’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $267.69, for a total transaction of $1,030,606.50. Following the sale, the chief executive officer now owns 34,637 shares in the company, valued at $9,271,978.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Marion K. Gross sold 1,396 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $265.44, for a total transaction of $370,554.24. Following the completion of the sale, the executive vice president now owns 308 shares of the company’s stock, valued at $81,755.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 3,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $267.69, for a total transaction of $1,030,606.50. Following the sale, the chief executive officer now directly owns 34,637 shares of the company’s stock, valued at approximately $9,271,978.53. The disclosure for this sale can be found here. Insiders have sold 8,122 shares of company stock worth $2,177,681 over the last 90 days. Company insiders own 0.18% of the company’s stock.
Institutional Trading of McDonald’s
A number of hedge funds have recently made changes to their positions in MCD. Cerro Pacific Wealth Advisors LLC boosted its holdings in McDonald’s by 4.2% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,948 shares of the fast-food giant’s stock worth $1,041,000 after purchasing an additional 160 shares during the period. Geneos Wealth Management Inc. boosted its holdings in McDonald’s by 19.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 10,641 shares of the fast-food giant’s stock worth $2,804,000 after purchasing an additional 1,766 shares during the period. National Bank of Canada FI boosted its holdings in McDonald’s by 77.1% in the fourth quarter. National Bank of Canada FI now owns 210,130 shares of the fast-food giant’s stock worth $55,351,000 after purchasing an additional 91,484 shares during the period. Crescent Grove Advisors LLC boosted its holdings in McDonald’s by 21.6% in the fourth quarter. Crescent Grove Advisors LLC now owns 1,252 shares of the fast-food giant’s stock worth $330,000 after purchasing an additional 222 shares during the period. Finally, Bullseye Investment Management LLC acquired a new position in McDonald’s in the fourth quarter worth $210,000. Institutional investors and hedge funds own 66.86% 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.
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