Brokerages Set McDonald’s Co. (NYSE:MCD) Price Target at $320.65

McDonald’s Co. (NYSE:MCD) has been given an average rating of “Moderate Buy” by the twenty-eight research firms that are covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $320.65.

A number of brokerages have recently commented on MCD. Morgan Stanley boosted their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. TD Cowen reiterated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Tuesday, October 29th. UBS Group increased their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Bank of America upped their target price on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,050 shares of company stock worth $3,556,688 over the last quarter. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the third quarter worth $25,000. RPg Family Wealth Advisory LLC bought a new stake in McDonald’s during the third quarter worth $31,000. Hara Capital LLC acquired a new stake in shares of McDonald’s in the 3rd quarter valued at $44,000. Peterson Financial Group Inc. acquired a new stake in shares of McDonald’s in the 3rd quarter valued at $58,000. Finally, FSA Wealth Management LLC bought a new position in shares of McDonald’s in the 3rd quarter valued at $72,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $294.78 on Wednesday. The company has a market capitalization of $211.25 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. The business has a 50-day moving average of $294.57 and a two-hundred day moving average of $284.66. McDonald’s has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the prior year, the business earned $3.19 EPS. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that McDonald’s will post 11.75 EPS for the current fiscal year.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.