McDonald’s (NYSE:MCD) Price Target Raised to $310.00 at Guggenheim

McDonald’s (NYSE:MCD) had its price objective hoisted by Guggenheim from $295.00 to $310.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the fast-food giant’s stock. Guggenheim’s price target indicates a potential upside of 1.70% from the company’s current price.

A number of other equities analysts have also recently commented on MCD. BMO Capital Markets reissued an “outperform” rating on shares of McDonald’s in a research note on Thursday, November 6th. Citigroup lowered their price target on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Truist Financial dropped their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Robert W. Baird boosted their price objective on McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, TD Cowen raised their price objective on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Eleven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s currently has an average rating of “Hold” and a consensus target price of $324.57.

McDonald’s Price Performance

NYSE:MCD opened at $304.83 on Wednesday. The company has a market cap of $217.08 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s has a 1 year low of $276.53 and a 1 year high of $326.32. The stock’s 50 day simple moving average is $303.05 and its two-hundred day simple moving average is $304.42.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period last year, the business posted $3.23 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that McDonald’s will post 12.25 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Manuel Jm Steijaert sold 13,134 shares of McDonald’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the sale, the executive vice president owned 4,606 shares of the company’s stock, valued at $1,383,734.52. The trade was a 74.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,329 shares of company stock worth $5,237,811 over the last quarter. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Institutional investors have recently modified their holdings of the stock. Decker Retirement Planning Inc. raised its position in McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s during the 2nd quarter worth $25,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s during the 1st quarter worth $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s during the first quarter valued at $26,000. Finally, Evergreen Private Wealth LLC raised its holdings in shares of McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after acquiring an additional 52 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.