McDonald’s (NYSE:MCD) Price Target Raised to $340.00 at KeyCorp

McDonald’s (NYSE:MCD) had its target price raised by investment analysts at KeyCorp from $335.00 to $340.00 in a research note issued on Thursday,Briefing.com Automated Import reports. The firm presently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s target price suggests a potential upside of 8.49% from the stock’s current price.

Several other research firms also recently weighed in on MCD. Truist Financial dropped their target price on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Piper Sandler reduced their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. BMO Capital Markets boosted their price target on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Barclays lifted their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Citigroup increased their target price on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Price Performance

Shares of NYSE MCD opened at $313.39 on Thursday. McDonald’s has a 1-year low of $243.53 and a 1-year high of $326.32. The company has a market capitalization of $223.91 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 3.10 and a beta of 0.71. The business has a 50-day moving average of $300.34 and a 200-day moving average of $297.89.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Research analysts expect that McDonald’s will post 12.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 sale, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,405 shares of company stock valued at $9,886,656 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

A number of hedge funds have recently bought and sold shares of MCD. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $25,000. Mascagni Wealth Management Inc. acquired a new stake in McDonald’s during the 4th quarter valued at $25,000. Atala Financial Inc purchased a new stake in shares of McDonald’s in the fourth quarter valued at $26,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of McDonald’s in the fourth quarter worth $27,000. Finally, Collier Financial purchased a new position in shares of McDonald’s during the fourth quarter valued at $29,000. 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.