TD Cowen Increases McDonald’s (NYSE:MCD) Price Target to $300.00

McDonald’s (NYSE:MCD) had its target price increased by stock analysts at TD Cowen from $280.00 to $300.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the fast-food giant’s stock. TD Cowen’s price target would indicate a potential downside of 4.09% from the stock’s current price.

A number of other brokerages also recently issued reports on MCD. Jefferies Financial Group boosted their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Barclays reduced their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Citigroup raised their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Wedbush restated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Stock Down 0.2 %

Shares of NYSE:MCD traded down $0.56 during midday trading on Wednesday, hitting $312.78. 942,015 shares of the stock traded hands, compared to its average volume of 3,357,828. The business’s 50 day moving average is $291.90 and its two-hundred day moving average is $272.91. The stock has a market capitalization of $225.41 billion, a PE ratio of 26.55, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald’s has a one year low of $243.53 and a one year high of $315.36.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the business posted $3.17 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that McDonald’s will post 11.71 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock valued at $10,221,233 in the last 90 days. 0.23% of the stock is currently owned by insiders.

Institutional Trading of McDonald’s

Several large investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the 1st quarter worth $28,000. Kings Path Partners LLC bought a new stake in McDonald’s during the second quarter valued at about $38,000. Keener Financial Planning LLC increased its position in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s during the 2nd quarter valued at approximately $65,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.