McDonald’s (NYSE:MCD) Stock Rating Upgraded by The Goldman Sachs Group

McDonald’s (NYSE:MCD) was upgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a $345.00 price target on the fast-food giant’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 15.08% from the company’s previous close.

Several other research analysts have also recently issued reports on MCD. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Northcoast Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Redburn Atlantic restated a “sell” rating and issued a $260.00 target price (down previously from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the company from $346.00 to $315.00 in a report on Friday, June 6th. Finally, Citigroup raised their price target on shares of McDonald’s from $364.00 to $365.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $322.29.

McDonald’s Stock Performance

Shares of MCD stock opened at $299.80 on Thursday. The stock’s 50-day simple moving average is $304.11 and its 200-day simple moving average is $302.48. The firm has a market capitalization of $214.37 billion, a PE ratio of 26.46, a P/E/G ratio of 3.11 and a beta of 0.53. McDonald’s has a fifty-two week low of $246.12 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts’ consensus estimates of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the prior year, the firm earned $2.70 earnings per share. McDonald’s’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts forecast that McDonald’s will post 12.25 earnings per share for the current year.

Insider Transactions at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’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 owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the sale, the insider owned 10,222 shares in the company, valued at $2,949,251.44. This trade represents a 8.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,817 shares of company stock valued at $1,165,843 in the last three months. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. WealthPlan Investment Management LLC lifted its holdings in shares of McDonald’s by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after purchasing an additional 32 shares during the period. Granite Bay Wealth Management LLC raised its position in McDonald’s by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after acquiring an additional 33 shares during the last quarter. CVA Family Office LLC increased its stake in shares of McDonald’s by 1.9% during the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock worth $560,000 after purchasing an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC increased its stake in shares of McDonald’s by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock worth $417,000 after purchasing an additional 33 shares in the last quarter. Finally, Security Financial Services INC. increased its stake in shares of McDonald’s by 0.7% during the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after purchasing an additional 33 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

About McDonald’s

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.