Truist Financial Lowers McDonald’s (NYSE:MCD) Price Target to $342.00

by · The Cerbat Gem

McDonald’s (NYSE:MCD – Get Free Report) had its price objective cut by research analysts at Truist Financial from $350.00 to $342.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s target price would suggest a potential upside of 16.62% from the company’s current price.

Other equities analysts also recently issued reports about the company. Citigroup boosted their price objective on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. BMO Capital Markets upped their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Tigress Financial raised their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $318.67.

Get Our Latest Research Report on McDonald’s

McDonald’s Stock Down 0.6 %

MCD stock traded down $1.73 during trading on Wednesday, hitting $293.27. 1,496,430 shares of the company’s stock traded hands, compared to its average volume of 3,507,807. The stock has a fifty day moving average price of $298.15 and a two-hundred day moving average price of $275.35. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a market capitalization of $210.38 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73.

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

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,097 shares of company stock valued at $10,256,818. Company insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

Several large investors have recently added to or reduced their stakes in the company. Kings Path Partners LLC bought a new stake in McDonald’s during the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC increased its stake in shares of McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in McDonald’s during the 2nd quarter worth about $59,000. Bbjs Financial Advisors LLC bought a new stake in McDonald’s during the 2nd quarter worth about $65,000. Finally, Macroview Investment Management LLC increased its position in McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after acquiring an additional 208 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald’s Company Profile

(Get Free Report)

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.

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