McDonald’s (NYSE:MCD) Price Target Raised to $390.00

McDonald’s (NYSE:MCD) had its price objective lifted by equities research analysts at Tigress Financial from $385.00 to $390.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the fast-food giant’s stock. Tigress Financial’s price target would suggest a potential upside of 45.66% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays lowered their price objective on McDonald’s from $380.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada restated a “sector perform” rating on shares of McDonald’s in a research report on Tuesday, June 23rd. Citigroup lowered their price target on McDonald’s from $375.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday. BTIG Research reiterated a “buy” rating and set a $370.00 price target on shares of McDonald’s in a research report on Thursday, May 7th. Finally, Weiss Ratings cut McDonald’s from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Fifteen analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $335.77.

McDonald’s Price Performance

NYSE MCD traded down $5.71 on Friday, hitting $267.75. The company had a trading volume of 1,974,014 shares, compared to its average volume of 3,790,953. The company has a market capitalization of $190.24 billion, a PE ratio of 22.07, a PEG ratio of 2.75 and a beta of 0.41. The company’s fifty day moving average price is $277.23 and its 200-day moving average price is $300.56. McDonald’s has a 12-month low of $264.09 and a 12-month high of $341.75.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.09. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same period last year, the firm posted $2.67 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s will post 12.9 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the transaction, the insider owned 7,734 shares in the company, valued at $2,198,930.88. The trade was a 40.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares in the company, valued at approximately $1,744,760.48. The trade was a 30.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,681 shares of company stock worth $2,456,440 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

A number of institutional investors have recently bought and sold shares of the company. Butensky & Cohen Financial Security Inc. increased its holdings in shares of McDonald’s by 2.5% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 19,429 shares of the fast-food giant’s stock worth $5,252,000 after buying an additional 483 shares during the last quarter. Hudson Value Partners LLC lifted its holdings in McDonald’s by 22.1% in the second quarter. Hudson Value Partners LLC now owns 15,790 shares of the fast-food giant’s stock valued at $4,268,000 after acquiring an additional 2,862 shares during the last quarter. Whitener Capital Management Inc. lifted its holdings in McDonald’s by 1.9% in the second quarter. Whitener Capital Management Inc. now owns 33,453 shares of the fast-food giant’s stock valued at $9,043,000 after acquiring an additional 635 shares during the last quarter. Tema ETFs LLC grew its position in McDonald’s by 10.7% in the second quarter. Tema ETFs LLC now owns 14,939 shares of the fast-food giant’s stock worth $4,038,000 after acquiring an additional 1,450 shares during the period. Finally, GenWealth Group Inc. purchased a new position in McDonald’s in the second quarter worth approximately $203,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

More McDonald’s News

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: McDonald’s is rolling out new limited-time menu items, including Caesar sauce and new chicken sandwiches, which could help drive customer interest and near-term restaurant traffic. McDonald’s unveils new Caesar sauce as fans renew calls for salads’ return
• Positive Sentiment: Analysts’ earnings preview suggests McDonald’s is heading into its next report with expectations for modest single-digit profit growth, which supports the case for stable fundamentals. McDonald’s Earnings Preview: What to Expect
• Positive Sentiment: Research pieces highlighted McDonald’s marketing strategy, loyalty efforts, and value offerings as tools that could improve customer engagement and help traffic trends. Can McDonald’s Global Marketing Strategy Drive Customer Traffic?
• Neutral Sentiment: Several articles focused on product launches, store openings, and fan reactions, but these are likely more of a branding and engagement story than a material near-term earnings driver. McDonald’s introducing the new sauce of the summer to New Jersey
• Negative Sentiment: Other coverage pointed to ongoing weakness in McDonald’s stock, with one report saying it is near nearly 2-year lows, reflecting investor concern about slower demand and a soft operating backdrop. Why McDonald’s stock is at nearly 2-year lows
• Negative Sentiment: One article also framed McDonald’s as having a “McProblem” that is not improving, reinforcing worries that traffic and consumer trends may still be under pressure. McDonald’s has a McProblem that’s not getting better

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.