McDonald’s (NYSE:MCD) Research Coverage Started at Piper Sandler

Posted by on Jun 15th, 2023

Stock analysts at Piper Sandler started coverage on shares of McDonald’s (NYSE:MCD – Get Rating) in a report issued on Wednesday, FinViz reports. The brokerage set a “neutral” rating and a $308.00 price target on the fast-food giant’s stock. Piper Sandler’s price target points to a potential upside of 6.79% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Tigress Financial boosted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, March 8th. Wedbush boosted their target price on shares of McDonald’s from $315.00 to $330.00 in a research note on Tuesday, April 25th. Loop Capital boosted their target price on shares of McDonald’s from $328.00 to $346.00 in a research note on Wednesday, April 26th. Credit Suisse Group boosted their target price on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, Royal Bank of Canada boosted their target price on shares of McDonald’s from $300.00 to $316.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Six equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $307.77.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $288.43 on Wednesday. The firm has a 50-day simple moving average of $290.27 and a two-hundred day simple moving average of $276.45. The company has a market cap of $210.58 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 3.04 and a beta of 0.64. McDonald’s has a fifty-two week low of $230.58 and a fifty-two week high of $298.86.

McDonald’s (NYSE:MCD – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The fast-food giant reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.58 billion. McDonald’s had a net margin of 29.36% and a negative return on equity of 124.87%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 earnings per share. Equities research analysts forecast that McDonald’s will post 11.04 EPS for the current year.

Insider Transactions at McDonald’s

In other news, CMO Edith Morgan Flatley sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $285.07, for a total value of $570,140.00. Following the transaction, the chief marketing officer now directly owns 1,929 shares in the company, valued at approximately $549,900.03. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $285.07, for a total transaction of $570,140.00. Following the sale, the chief marketing officer now directly owns 1,929 shares in the company, valued at approximately $549,900.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Catherine A. Hoovel sold 840 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $298.77, for a total transaction of $250,966.80. Following the sale, the senior vice president now owns 891 shares in the company, valued at $266,204.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,667 shares of company stock worth $3,725,307. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McDonald’s

A number of large investors have recently modified their holdings of the company. Sweeney & Michel LLC purchased a new position in shares of McDonald’s in the 1st quarter valued at $234,000. Atomi Financial Group Inc. purchased a new position in shares of McDonald’s in the 1st quarter valued at $277,000. EP Wealth Advisors LLC purchased a new position in shares of McDonald’s in the 1st quarter valued at $973,000. Golden State Equity Partners purchased a new position in shares of McDonald’s in the 1st quarter valued at $1,854,000. Finally, BKA Wealth Consulting Inc. purchased a new position in shares of McDonald’s in the 1st quarter valued at $1,288,000. 66.86% of the stock is owned by hedge funds and other institutional investors.

About McDonald’s

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.

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