KeyCorp Issues Pessimistic Forecast for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price target reduced by stock analysts at KeyCorp from $354.00 to $345.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s price target suggests a potential upside of 10.65% from the company’s previous close.

MCD has been the topic of several other research reports. Sanford C. Bernstein reiterated a “market perform” rating and set a $340.00 price target on shares of McDonald’s in a report on Thursday, February 12th. TD Cowen reiterated a “hold” rating and set a $320.00 price target on shares of McDonald’s in a report on Thursday, February 12th. Royal Bank Of Canada lifted their price target on McDonald’s from $320.00 to $330.00 and gave the stock a “sector perform” rating in a report on Thursday, February 12th. Tigress Financial lifted their price target on McDonald’s from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Finally, Truist Financial lifted their price target on McDonald’s from $356.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Seventeen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Hold” and a consensus price target of $339.38.

McDonald’s Stock Up 0.1%

Shares of MCD opened at $311.78 on Monday. McDonald’s has a 52-week low of $283.47 and a 52-week high of $341.75. The firm’s fifty day moving average is $319.62 and its two-hundred day moving average is $311.90. The stock has a market cap of $221.63 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 2.81 and a beta of 0.53.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.05 by $0.07. McDonald’s had a net margin of 31.85% and a negative return on equity of 343.90%. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the company posted $2.83 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that McDonald’s will post 12.25 earnings per share for the current year.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 2,626 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $325.25, for a total value of $854,106.50. Following the transaction, the insider owned 5,398 shares of the company’s stock, valued at $1,755,699.50. This represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Edith Morgan Flatley sold 4,692 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $331.00, for a total transaction of $1,553,052.00. Following the completion of the transaction, the chief marketing officer directly owned 6,200 shares in the company, valued at $2,052,200. The trade was a 43.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 71,657 shares of company stock worth $23,723,307. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MCD. Vanguard Group Inc. increased its stake in McDonald’s by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 72,351,127 shares of the fast-food giant’s stock worth $22,112,675,000 after purchasing an additional 703,458 shares during the period. State Street Corp increased its stake in McDonald’s by 2.7% during the fourth quarter. State Street Corp now owns 35,983,997 shares of the fast-food giant’s stock worth $10,997,789,000 after purchasing an additional 959,140 shares during the period. Geode Capital Management LLC increased its stake in McDonald’s by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 17,038,519 shares of the fast-food giant’s stock worth $5,195,965,000 after purchasing an additional 76,090 shares during the period. Price T Rowe Associates Inc. MD increased its stake in McDonald’s by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,474,749 shares of the fast-food giant’s stock worth $2,895,768,000 after purchasing an additional 277,617 shares during the period. Finally, Norges Bank purchased a new stake in McDonald’s during the fourth quarter worth about $2,890,438,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.