Bank of America Raises McDonald’s (NYSE:MCD) Price Target to $316.00

McDonald’s (NYSE:MCD) had its target price lifted by analysts at Bank of America from $312.00 to $316.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the fast-food giant’s stock. Bank of America‘s price objective would suggest a potential upside of 2.77% from the company’s current price.

MCD has been the topic of several other research reports. Loop Capital reissued a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Truist Financial reduced their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Piper Sandler dropped their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Citigroup increased their price objective on shares of McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Price Performance

MCD opened at $307.47 on Tuesday. The company has a 50 day simple moving average of $291.33 and a two-hundred day simple moving average of $291.97. The firm has a market cap of $220.34 billion, a P/E ratio of 26.99, a PEG ratio of 4.08 and a beta of 0.74. McDonald’s has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. Equities analysts anticipate that McDonald’s will post 11.73 earnings per share for the current year.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the transaction, the insider now owns 9,286 shares in the company, valued at $2,716,155. The trade was a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock worth $2,150,857 over the last quarter. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. PAX Financial Group LLC boosted its holdings in McDonald’s by 157.4% in the fourth quarter. PAX Financial Group LLC now owns 3,284 shares of the fast-food giant’s stock worth $952,000 after acquiring an additional 2,008 shares in the last quarter. Yoffe Investment Management LLC acquired a new stake in McDonald’s in the 4th quarter worth approximately $892,000. Annis Gardner Whiting Capital Advisors LLC grew its position in McDonald’s by 6.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,830 shares of the fast-food giant’s stock worth $820,000 after purchasing an additional 179 shares during the last quarter. Grant Private Wealth Management Inc acquired a new position in McDonald’s during the 4th quarter valued at approximately $502,000. Finally, Arete Wealth Advisors LLC raised its holdings in shares of McDonald’s by 1.7% in the fourth quarter. Arete Wealth Advisors LLC now owns 35,052 shares of the fast-food giant’s stock worth $10,134,000 after buying an additional 586 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

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, Russia, Spain, and the U.K.