Morgan Stanley Boosts McDonald’s (NYSE:MCD) Price Target to $340.00

by · The Markets Daily

McDonald’s (NYSE:MCD – Get Free Report) had its price objective upped by investment analysts at Morgan Stanley from $296.00 to $340.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the fast-food giant’s stock. Morgan Stanley’s target price would indicate a potential upside of 9.66% from the stock’s previous close.

Several other equities analysts also recently weighed in on MCD. Bank of America dropped their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Citigroup lifted 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. The Goldman Sachs Group increased their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Robert W. Baird boosted their price target on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Truist Financial decreased their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $312.04.

Read Our Latest Stock Report on McDonald’s

McDonald’s Price Performance

Shares of NYSE:MCD opened at $310.05 on Tuesday. The firm has a market capitalization of $223.45 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. The business’s 50 day simple moving average is $291.04 and its 200-day simple moving average is $272.69. McDonald’s has a 12 month low of $243.53 and a 12 month high of $310.42.

McDonald’s (NYSE:MCD – Get Free Report) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm posted $3.17 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts anticipate that McDonald’s will post 11.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares in the company, valued at approximately $13,193,080. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,751 shares of company stock worth $9,493,973 over the last quarter. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of McDonald’s

A number of hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. bought a new position in shares of McDonald’s during the second quarter valued at approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after acquiring an additional 51,210 shares during the period. BNP Paribas bought a new position in shares of McDonald’s during the first quarter worth about $7,898,000. First Long Island Investors LLC increased its holdings in shares of McDonald’s by 16.6% in the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock worth $15,231,000 after acquiring an additional 7,707 shares during the period. Finally, Lloyd Advisory Services LLC. lifted its position in McDonald’s by 504.6% in the 1st quarter. Lloyd Advisory Services LLC. now owns 9,165 shares of the fast-food giant’s stock valued at $2,584,000 after purchasing an additional 7,649 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

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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