Citigroup Lowers McDonald’s (NYSE:MCD) Price Target to $297.00

McDonald’s (NYSE:MCD) had its price objective cut by stock analysts at Citigroup from $312.00 to $297.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the fast-food giant’s stock. Citigroup’s price objective would suggest a potential upside of 10.02% from the company’s previous close.

Other research analysts also recently issued reports about the company. Royal Bank of Canada cut their price objective on McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Morgan Stanley lowered their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Stifel Nicolaus lowered their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Truist Financial lowered their target price on McDonald’s from $345.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $315.00 target price on shares of McDonald’s in a report on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $319.72.

McDonald’s Price Performance

MCD opened at $269.95 on Tuesday. McDonald’s has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The business has a 50-day moving average of $283.86 and a 200-day moving average of $280.69. The company has a market capitalization of $194.64 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the business earned $2.59 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that McDonald’s will post 12.35 earnings per share for the current fiscal year.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Independent Wealth Network Inc. grew its stake in shares of McDonald’s by 4.2% during the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after purchasing an additional 35 shares during the period. Concentric Wealth Management LLC grew its stake in shares of McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after purchasing an additional 35 shares during the period. Paragon Capital Management Ltd grew its stake in shares of McDonald’s by 2.7% during the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock worth $407,000 after purchasing an additional 36 shares during the period. Mechanics Financial Corp grew its stake in shares of McDonald’s by 0.7% during the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock worth $1,581,000 after purchasing an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC grew its stake in shares of McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 36 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Company Profile

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.