Guggenheim Forecasts Strong Price Appreciation for McDonald’s (NYSE:MCD) Stock

McDonald’s (NYSE:MCD) had its price target hoisted by investment analysts at Guggenheim from $295.00 to $310.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the fast-food giant’s stock. Guggenheim’s target price suggests a potential upside of 1.70% from the company’s current price.

MCD has been the topic of a number of other research reports. Evercore ISI boosted their target price on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Truist Financial dropped their price objective on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Citigroup decreased their target price on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, October 21st. BMO Capital Markets reissued an “outperform” rating on shares of McDonald’s in a research report on Thursday, November 6th. Finally, Wells Fargo & Company upped their price target on McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and a consensus price target of $324.57.

McDonald’s Price Performance

Shares of MCD opened at $304.83 on Wednesday. The company has a 50-day simple moving average of $303.05 and a two-hundred day simple moving average of $304.42. The firm has a market capitalization of $217.08 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. McDonald’s has a one year low of $276.53 and a one year 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 the consensus estimate of $3.33 by ($0.11). The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 EPS. Analysts expect that McDonald’s will post 12.25 EPS for the current fiscal year.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 3,195 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the sale, the insider owned 6,088 shares in the company, valued at approximately $1,861,832.16. This trade represents a 34.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the sale, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. This represents a 74.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,329 shares of company stock valued at $5,237,811 over the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Trading of McDonald’s

Several large investors have recently modified their holdings of the company. Decker Retirement Planning Inc. grew its holdings in McDonald’s by 142.9% during the second 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 during the period. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at about $25,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s during the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new stake in McDonald’s in the 1st quarter worth approximately $26,000. Finally, Evergreen Private Wealth LLC raised its stake 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 during the period. Institutional investors own 70.29% of the company’s stock.

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.