Truist Financial Lowers McDonald’s (NYSE:MCD) Price Target to $320.00

McDonald’s (NYSE:MCD) had its price target dropped by equities research analysts at Truist Financial from $337.00 to $320.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s target price would indicate a potential upside of 18.38% from the stock’s previous close.

Several other brokerages have also recently commented on MCD. Stephens reaffirmed an “overweight” rating and set a $320.00 target price on shares of McDonald’s in a report on Monday, February 5th. Royal Bank of Canada reduced their target price on McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. TD Cowen reaffirmed a “buy” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Tuesday. StockNews.com downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Evercore ISI reissued an “outperform” rating and issued a $330.00 target price on shares of McDonald’s in a report on Wednesday, March 27th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $317.74.

McDonald’s Trading Down 1.1 %

Shares of NYSE MCD traded down $2.96 during mid-day trading on Thursday, hitting $270.32. The company had a trading volume of 2,642,344 shares, compared to its average volume of 3,812,742. McDonald’s has a one year low of $245.73 and a one year high of $302.39. The company has a market capitalization of $194.90 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71. The firm has a 50-day simple moving average of $279.53 and a two-hundred day simple moving average of $282.35.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the business posted $2.63 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts expect that McDonald’s will post 12.18 earnings per share for the current fiscal year.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MCD. Legacy Financial Group LLC purchased a new stake in McDonald’s in the third quarter worth approximately $121,000. Summit Financial Strategies Inc. raised its position in McDonald’s by 30.1% in the 3rd quarter. Summit Financial Strategies Inc. now owns 1,954 shares of the fast-food giant’s stock worth $515,000 after purchasing an additional 452 shares during the period. Total Investment Management Inc. raised its position in McDonald’s by 5.2% in the 3rd quarter. Total Investment Management Inc. now owns 1,238 shares of the fast-food giant’s stock worth $326,000 after purchasing an additional 61 shares during the period. Aspire Capital Advisors LLC bought a new stake in McDonald’s in the third quarter worth $355,000. Finally, Bouchey Financial Group Ltd boosted its position in McDonald’s by 2.2% during the third quarter. Bouchey Financial Group Ltd now owns 2,325 shares of the fast-food giant’s stock valued at $613,000 after buying an additional 49 shares during the period. 70.29% of the stock is currently owned by institutional investors.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.