McDonald’s (NYSE:MCD) Given New $310.00 Price Target at Citigroup

McDonald’s (NYSE:MCDFree Report) had its price objective lowered by Citigroup from $327.00 to $310.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the fast-food giant’s stock.

Several other equities research analysts have also recently weighed in on MCD. DZ Bank upgraded McDonald’s from a hold rating to a buy rating and set a $300.00 target price for the company in a research note on Tuesday, October 31st. Guggenheim dropped their price target on McDonald’s from $330.00 to $285.00 and set a buy rating for the company in a research note on Thursday, October 19th. Robert W. Baird reiterated an outperform rating and issued a $315.00 price target on shares of McDonald’s in a research note on Tuesday. HSBC began coverage on McDonald’s in a research note on Wednesday, December 20th. They issued a buy rating and a $317.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on McDonald’s from $270.00 to $278.00 and gave the company an overweight rating in a research note on Tuesday, October 31st. Six equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of Moderate Buy and a consensus price target of $320.10.

Read Our Latest Analysis on MCD

McDonald’s Price Performance

NYSE MCD opened at $284.65 on Tuesday. The business has a fifty day moving average price of $291.92 and a two-hundred day moving average price of $280.13. McDonald’s has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The stock has a market capitalization of $206.47 billion, a PE ratio of 24.60, a PEG ratio of 2.52 and a beta of 0.73.

McDonald’s (NYSE:MCDGet Free Report) last released its earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the prior year, the company earned $2.59 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that McDonald’s will post 12.5 earnings per share for the current year.

Insider Activity

In related news, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $281.25, for a total value of $1,261,968.75. Following the transaction, the insider now owns 8,908 shares of the company’s stock, valued at approximately $2,505,375. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Joseph M. Erlinger sold 4,583 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $290.70, for a total value of $1,332,278.10. Following the transaction, the insider now owns 8,187 shares of the company’s stock, valued at approximately $2,379,960.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $281.25, for a total transaction of $1,261,968.75. Following the completion of the transaction, the insider now directly owns 8,908 shares in the company, valued at approximately $2,505,375. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On McDonald’s

Large investors have recently added to or reduced their stakes in the business. Fortitude Advisory Group L.L.C. lifted its position in shares of McDonald’s by 5.9% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 1,153 shares of the fast-food giant’s stock worth $344,000 after buying an additional 64 shares in the last quarter. Register Financial Advisors LLC lifted its position in shares of McDonald’s by 46.4% during the 2nd quarter. Register Financial Advisors LLC now owns 947 shares of the fast-food giant’s stock worth $282,000 after buying an additional 300 shares in the last quarter. Beaumont Financial Advisors LLC lifted its position in shares of McDonald’s by 0.6% during the 3rd quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock worth $21,191,000 after buying an additional 450 shares in the last quarter. W Advisors LLC bought a new position in shares of McDonald’s during the 2nd quarter worth approximately $981,000. Finally, Solstein Capital LLC lifted its position in shares of McDonald’s by 9.8% during the 2nd quarter. Solstein Capital LLC now owns 1,698 shares of the fast-food giant’s stock worth $507,000 after buying an additional 152 shares in the last quarter. Institutional investors own 67.60% of the company’s stock.

McDonald’s Company Profile

(Get Free Report)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.

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