McDonald’s (NYSE:MCD) Price Target Raised to $326.00 at Morgan Stanley

McDonald’s (NYSE:MCD) had its price target boosted by research analysts at Morgan Stanley from $324.00 to $326.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the fast-food giant’s stock. Morgan Stanley’s price objective suggests a potential upside of 9.00% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Piper Sandler upped their target price on McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. TD Securities reissued a “hold” rating and set a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 5th. Argus downgraded McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Robert W. Baird increased their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, Barclays increased their price objective on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $319.48.

McDonald’s Price Performance

Shares of NYSE:MCD traded down $0.84 during trading hours on Monday, hitting $299.07. The company’s stock had a trading volume of 405,557 shares, compared to its average volume of 3,600,356. The company has a market capitalization of $213.84 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 3.13 and a beta of 0.53. McDonald’s has a 52 week low of $246.12 and a 52 week high of $326.32. The firm’s fifty day moving average price is $304.11 and its 200 day moving average price is $302.59.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.70 EPS. On average, equities research analysts predict that McDonald’s will post 12.25 earnings per share for the current fiscal year.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the sale, the insider owned 10,222 shares of the company’s stock, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the sale, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,817 shares of company stock worth $1,165,843. 0.25% of the stock is owned by insiders.

Institutional Trading of McDonald’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $25,000. HFM Investment Advisors LLC acquired a new stake in McDonald’s in the 1st quarter worth about $26,000. Nova Wealth Management Inc. acquired a new stake in McDonald’s in the 1st quarter worth about $26,000. Pinney & Scofield Inc. purchased a new stake in McDonald’s in the 4th quarter valued at about $29,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in McDonald’s in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.