BMO Capital Markets Raises McDonald’s (NYSE:MCD) Price Target to $335.00

McDonald’s (NYSE:MCD) had its price objective raised by investment analysts at BMO Capital Markets from $315.00 to $335.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the fast-food giant’s stock. BMO Capital Markets’ price target would indicate a potential upside of 14.66% from the stock’s previous close.

Several other equities analysts have also weighed in on MCD. UBS Group upped their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays upped their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus dropped their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Tigress Financial upped their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Citigroup upped their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $319.46.

McDonald’s Stock Up 0.2 %

MCD stock opened at $292.17 on Wednesday. The firm has a market cap of $209.59 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 4.13 and a beta of 0.73. McDonald’s has a 12-month low of $243.53 and a 12-month high of $317.90. The company’s fifty day simple moving average is $298.25 and its 200 day simple moving average is $275.58.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that McDonald’s will post 11.73 earnings per share for the current year.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,256,818 in the last three months. Company insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. purchased a new stake in shares of McDonald’s during the 2nd quarter valued at approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares in the last quarter. BNP Paribas purchased a new stake in McDonald’s in the 1st quarter worth approximately $7,898,000. Finally, First Financial Bankshares Inc lifted its stake in McDonald’s by 11.7% in the 3rd quarter. First Financial Bankshares Inc now owns 313,961 shares of the fast-food giant’s stock worth $95,604,000 after purchasing an additional 32,890 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other 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.