KeyCorp Issues Positive Forecast for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price target boosted by research analysts at KeyCorp from $320.00 to $335.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s target price suggests a potential upside of 8.95% from the company’s current price.

Several other equities research analysts also recently commented on MCD. Robert W. Baird upped their target price on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday. Loop Capital reiterated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. Wedbush upped their price target on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Piper Sandler lowered their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Trading Down 0.9 %

McDonald’s stock opened at $307.47 on Tuesday. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a market cap of $220.34 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.08 and a beta of 0.74. The company’s 50-day moving average price is $291.33 and its two-hundred day moving average price is $291.97.

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

Insider Activity

In other news, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock valued at $2,150,857 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of McDonald’s

A number of institutional investors have recently bought and sold shares of the business. PAX Financial Group LLC raised its position in shares of 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 valued at $952,000 after buying an additional 2,008 shares in the last quarter. Yoffe Investment Management LLC bought a new position in McDonald’s during the 4th quarter worth $892,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in McDonald’s by 6.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,830 shares of the fast-food giant’s stock valued at $820,000 after acquiring an additional 179 shares in the last quarter. Grant Private Wealth Management Inc acquired a new position in McDonald’s in the fourth quarter valued at about $502,000. Finally, Arete Wealth Advisors LLC lifted its position in McDonald’s by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 35,052 shares of the fast-food giant’s stock worth $10,134,000 after purchasing an additional 586 shares during the period. Institutional investors own 70.29% of the company’s stock.

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.