McDonald’s’ (MCD) Outperform Rating Reaffirmed at Wedbush

McDonald’s (NYSE:MCD)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $295.00 price target on the fast-food giant’s stock. Wedbush’s price target would suggest a potential downside of 2.19% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price objective on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial boosted their target price on McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Barclays raised their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Bank of America upped their price objective on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a report on Monday. Thirteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $318.22.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $301.61 on Wednesday. The stock has a 50 day moving average price of $296.97 and a 200 day moving average price of $274.51. The stock has a market capitalization of $217.36 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the company posted $3.17 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that McDonald’s will post 11.71 EPS for the current year.

Insider Buying and Selling at McDonald’s

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the sale, the chief executive officer now directly 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 32,998 shares of company stock worth $9,935,493 over the last 90 days. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Several hedge funds have recently added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the first quarter valued at $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the second quarter worth $38,000. Keener Financial Planning LLC increased its holdings in 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 purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC bought a new position in McDonald’s during the 2nd quarter worth $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at about $65,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

About McDonald’s

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.