McDonald’s (NYSE:MCD) Price Target Raised to $320.00 at Robert W. Baird

McDonald’s (NYSE:MCD) had its price target lifted by research analysts at Robert W. Baird from $280.00 to $320.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the fast-food giant’s stock. Robert W. Baird’s price target points to a potential upside of 6.48% from the stock’s previous close.

MCD has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lowered their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Guggenheim boosted their target price on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group boosted their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Evercore ISI boosted their price target on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $308.22.

McDonald’s Trading Up 0.1 %

Shares of MCD stock opened at $300.53 on Thursday. McDonald’s has a 1-year low of $243.53 and a 1-year high of $302.39. The company has a market capitalization of $215.58 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.99 and a beta of 0.72. The stock’s fifty day simple moving average is $279.11 and its 200-day simple moving average is $270.68.

McDonald’s (NYSE:MCD) last issued 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 net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the firm earned $3.17 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts predict that McDonald’s will post 11.69 EPS for the current year.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,958 shares of company stock worth $7,032,111. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Concentric Wealth Management LLC increased its holdings in McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares in the last quarter. FinTrust Capital Advisors LLC increased its holdings in McDonald’s by 2.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares in the last quarter. Founders Financial Alliance LLC increased its holdings in McDonald’s by 0.7% during the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after purchasing an additional 36 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in McDonald’s by 1.3% during the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares in the last quarter. Finally, Weatherly Asset Management L. P. increased its holdings in McDonald’s by 0.9% during the 1st quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after purchasing an additional 38 shares in the last quarter. 70.29% of the stock is 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.