Truist Financial Cuts McDonald’s (NYSE:MCD) Price Target to $320.00

McDonald’s (NYSE:MCD) had its price objective dropped by stock analysts at Truist Financial from $337.00 to $320.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s target price would suggest a potential upside of 18.38% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Wedbush dropped their price objective on McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, April 26th. UBS Group lowered their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a research note on Wednesday, March 27th. Morgan Stanley decreased their price objective on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Finally, BTIG Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $317.74.

McDonald’s Price Performance

Shares of NYSE MCD traded down $2.96 during mid-day trading on Thursday, hitting $270.32. 2,642,344 shares of the company’s stock traded hands, compared to its average volume of 3,812,742. McDonald’s has a 1 year low of $245.73 and a 1 year high of $302.39. The company’s 50-day moving average is $279.53 and its two-hundred day moving average is $282.35. The company has a market capitalization of $194.90 billion, a P/E ratio of 22.95, a PEG ratio of 2.95 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the company earned $2.63 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts anticipate that McDonald’s will post 12.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now owns 18,075 shares in the company, valued at approximately $5,140,168.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the first quarter worth about $28,000. Signature Resources Capital Management LLC purchased a new stake in McDonald’s in the 4th quarter worth approximately $31,000. Blue Bell Private Wealth Management LLC grew its stake in shares of McDonald’s by 51.9% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after purchasing an additional 42 shares during the period. Spartan Planning & Wealth Management purchased a new position in shares of McDonald’s during the 3rd quarter valued at approximately $33,000. Finally, Clear Investment Research LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Company Profile

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.