McDonald’s (NYSE:MCD) Price Target Raised to $360.00 at Citigroup

McDonald’s (NYSE:MCD) had its price target raised by equities researchers at Citigroup from $336.00 to $360.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the fast-food giant’s stock. Citigroup’s price target indicates a potential upside of 16.80% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Truist Financial decreased their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Barclays raised their target price on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company upped their price target on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. BMO Capital Markets raised their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $321.70.

McDonald’s Stock Up 4.7 %

MCD stock opened at $308.22 on Tuesday. The firm’s 50-day simple moving average is $290.70 and its 200 day simple moving average is $291.16. The stock has a market cap of $220.88 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

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

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $453,882. This trade represents a 49.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,406 shares of company stock worth $2,150,857. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of McDonald’s

Institutional investors have recently added to or reduced their stakes in the business. Kennebec Savings Bank acquired a new position in shares of McDonald’s during the 3rd quarter worth about $1,394,000. YANKCOM Partnership acquired a new position in shares of McDonald’s during the fourth quarter worth approximately $1,628,000. Charles Schwab Investment Management Inc. boosted its position in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after acquiring an additional 2,997 shares during the last quarter. Finally, PFW Advisors LLC bought a new position in McDonald’s during the fourth quarter worth $2,471,000. 70.29% of the stock is currently 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.