McDonald’s (NYSE:MCD) Price Target Increased to $260.00 by Analysts at Telsey Advisory Group

McDonald’s (NYSE:MCD) had its target price lifted by Telsey Advisory Group from $250.00 to $260.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an outperform rating on the fast-food giant’s stock.

Other analysts have also issued research reports about the stock. Credit Suisse Group increased their price target on shares of McDonald’s from $238.00 to $261.00 and gave the stock an outperform rating in a research report on Thursday, May 6th. Piper Sandler increased their price target on shares of McDonald’s from $209.00 to $225.00 and gave the stock a neutral rating in a research report on Monday, April 19th. Jefferies Financial Group reissued a buy rating and issued a $265.00 price objective on shares of McDonald’s in a research note on Monday, April 12th. KeyCorp increased their price objective on shares of McDonald’s from $235.00 to $265.00 and gave the company an overweight rating in a research note on Thursday, May 6th. Finally, Wells Fargo & Company raised shares of McDonald’s to an overweight rating in a research note on Monday, February 22nd. Eight research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $242.37.

NYSE MCD opened at $227.94 on Monday. The firm has a market capitalization of $170.08 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 3.17 and a beta of 0.58. The firm’s 50 day simple moving average is $231.17 and its 200 day simple moving average is $217.74. McDonald’s has a 1 year low of $167.85 and a 1 year high of $238.18.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, April 29th. The fast-food giant reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.11. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.02 billion. McDonald’s had a net margin of 25.60% and a negative return on equity of 53.62%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.47 EPS. Equities research analysts predict that McDonald’s will post 6.16 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of MCD. Norges Bank acquired a new position in shares of McDonald’s during the fourth quarter valued at about $1,616,206,000. BlackRock Inc. lifted its position in shares of McDonald’s by 1.4% during the first quarter. BlackRock Inc. now owns 51,462,592 shares of the fast-food giant’s stock valued at $11,534,826,000 after purchasing an additional 714,829 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of McDonald’s by 120.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,022,688 shares of the fast-food giant’s stock valued at $219,448,000 after purchasing an additional 557,891 shares in the last quarter. Geode Capital Management LLC raised its position in McDonald’s by 3.7% in the first quarter. Geode Capital Management LLC now owns 11,843,468 shares of the fast-food giant’s stock worth $2,647,571,000 after acquiring an additional 424,599 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its position in McDonald’s by 36.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,522,335 shares of the fast-food giant’s stock worth $326,661,000 after acquiring an additional 404,133 shares during the period. Hedge funds and other institutional investors own 66.25% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2020, the company operated 39,198 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

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Analyst Recommendations for McDonald`s (NYSE:MCD)

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