McDonald’s (NYSE:MCD) Price Target Cut to $358.00 by Analysts at Barclays

McDonald’s (NYSE:MCD) had its price objective dropped by Barclays from $362.00 to $358.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the fast-food giant’s stock. Barclays‘s price objective indicates a potential upside of 17.92% from the company’s previous close.

Several other equities research analysts also recently weighed in on MCD. TD Cowen increased their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Bank of America reduced their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Morgan Stanley set a $335.00 target price on shares of McDonald’s in a research report on Friday, October 17th. Finally, The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a research report on Thursday, July 10th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.26.

McDonald’s Price Performance

Shares of MCD traded down $2.06 during mid-day trading on Thursday, reaching $303.61. 194,708 shares of the company’s stock were exchanged, compared to its average volume of 3,437,541. The stock has a market capitalization of $216.66 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The business’s fifty day simple moving average is $304.94 and its 200-day simple moving average is $305.25. McDonald’s has a 52-week low of $276.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter last year, the business posted $3.23 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that McDonald’s will post 12.25 earnings per share for the current year.

Insider Activity

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On McDonald’s

Several hedge funds and other institutional investors have recently modified their holdings of MCD. Decker Retirement Planning Inc. lifted its stake in shares of McDonald’s by 142.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in McDonald’s during the 2nd quarter worth approximately $25,000. HFM Investment Advisors LLC acquired a new position in McDonald’s during the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s during the 1st quarter worth approximately $26,000. Finally, Evergreen Private Wealth LLC lifted its position in McDonald’s by 162.5% during the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after acquiring an additional 52 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Company Profile

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.