Citigroup Increases McDonald’s (NYSE:MCD) Price Target to $317.00

McDonald’s (NYSE:MCD) had its target price lifted by research analysts at Citigroup from $301.00 to $317.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the fast-food giant’s stock. Citigroup’s price target suggests a potential upside of 4.52% from the stock’s previous close.

A number of other analysts have also recently weighed in on MCD. Evercore ISI upped their price target on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Barclays lowered their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Guggenheim boosted their target price on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. TD Cowen reaffirmed a “hold” rating and set a $280.00 price target on shares of McDonald’s in a report on Monday, September 23rd. Finally, Morgan Stanley decreased their price objective on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $308.81.

McDonald’s Stock Performance

MCD traded up $0.30 during trading on Wednesday, reaching $303.28. The company’s stock had a trading volume of 1,238,391 shares, compared to its average volume of 3,422,634. The company’s fifty day moving average price is $283.58 and its 200-day moving average price is $271.26. The company has a market capitalization of $218.57 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 3.99 and a beta of 0.73. McDonald’s has a 52-week low of $243.53 and a 52-week high of $306.96.

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

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was 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 of the company’s stock, valued at $13,193,080. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The disclosure for this sale can be found here. Insiders have sold a total of 31,751 shares of company stock valued at $9,493,973 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the first quarter worth approximately $28,000. Kings Path Partners LLC bought a new position in shares of McDonald’s in the 2nd quarter worth $38,000. Accent Capital Management LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $44,000. Transcendent Capital Group LLC bought a new stake in McDonald’s in the fourth quarter valued at about $45,000. Finally, Keener Financial Planning LLC lifted its stake 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 buying an additional 43 shares during the period. 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.