McDonald’s (NYSE:MCD) Price Target Lowered to $350.00 at BTIG Research

McDonald’s (NYSE:MCD) had its target price dropped by stock analysts at BTIG Research from $370.00 to $350.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the fast-food giant’s stock. BTIG Research’s price objective indicates a potential upside of 33.23% from the company’s current price.

MCD has been the subject of a number of other reports. Barclays cut their target price on McDonald’s from $380.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Tigress Financial upped their price objective on McDonald’s from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Rothschild & Co Redburn upgraded McDonald’s from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $260.00 to $306.00 in a research report on Thursday, April 23rd. Citigroup reduced their target price on McDonald’s from $375.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft set a $325.00 target price on shares of McDonald’s in a research report on Thursday, July 9th. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $334.32.

McDonald’s Stock Performance

MCD stock opened at $262.70 on Friday. The stock has a market capitalization of $186.65 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.83 and a beta of 0.41. The company has a fifty day moving average of $276.23 and a 200-day moving average of $299.11. McDonald’s has a one year low of $260.96 and a one year high of $341.75.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.09. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same period in the prior year, the company posted $2.67 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts forecast that McDonald’s will post 12.86 earnings per share for the current fiscal year.

Insider Activity

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,763 shares of McDonald’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total value of $769,108.68. Following the transaction, the executive vice president owned 6,268 shares in the company, valued at $1,744,760.48. This trade represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total value of $1,493,248.64. Following the completion of the transaction, the insider owned 7,734 shares in the company, valued at $2,198,930.88. The trade was a 40.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,348 shares of company stock worth $2,355,634 over the last quarter. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of McDonald’s

Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in McDonald’s in the fourth quarter valued at about $2,890,438,000. Diamant Asset Management Inc. grew its position in shares of McDonald’s by 30,979.0% during the first quarter. Diamant Asset Management Inc. now owns 2,596,340 shares of the fast-food giant’s stock worth $806,917,000 after buying an additional 2,587,986 shares in the last quarter. J. Stern & Co. LLP increased its stake in shares of McDonald’s by 9,867.5% in the fourth quarter. J. Stern & Co. LLP now owns 2,541,008 shares of the fast-food giant’s stock worth $776,608,000 after buying an additional 2,515,515 shares during the last quarter. Viking Global Investors LP boosted its stake in McDonald’s by 171.7% during the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after acquiring an additional 1,974,998 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in McDonald’s by 49.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,104,337 shares of the fast-food giant’s stock worth $948,779,000 after acquiring an additional 1,033,041 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.