McDonald’s (NYSE:MCD) Price Target Lowered to $350.00 at Barclays

McDonald’s (NYSE:MCD) had its target price cut by Barclays from $380.00 to $350.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the fast-food giant’s stock.

A number of other brokerages have also weighed in on MCD. Piper Sandler boosted their target price on shares of McDonald’s from $323.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Royal Bank Of Canada boosted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the company a “sector perform” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $305.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Sanford C. Bernstein reissued a “market perform” rating and set a $340.00 price objective on shares of McDonald’s in a research report on Thursday, February 12th. Finally, Rothschild & Co Redburn raised shares of McDonald’s from a “sell” rating to a “neutral” rating and upped their target price for the stock from $260.00 to $306.00 in a report on Thursday, April 23rd. Seventeen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $335.14.

McDonald’s Stock Down 2.8%

Shares of MCD opened at $275.62 on Friday. McDonald’s has a 52 week low of $274.83 and a 52 week high of $341.75. The stock has a market cap of $195.92 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.63 and a beta of 0.43. The business’s 50 day moving average price is $311.40 and its 200-day moving average price is $311.40.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a net margin of 31.62% and a negative return on equity of 395.08%. The company had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the previous year, the business earned $2.67 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that McDonald’s will post 13.17 EPS for the current year.

Insider Buying and Selling at McDonald’s

In other news, EVP Jonathan Banner sold 6,201 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $333.29, for a total value of $2,066,731.29. Following the completion of the sale, the executive vice president owned 2,291 shares of the company’s stock, valued at $763,567.39. This represents a 73.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 333 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $302.72, for a total transaction of $100,805.76. Following the completion of the sale, the insider directly owned 8,067 shares of the company’s stock, valued at approximately $2,442,042.24. This trade represents a 3.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,990 shares of company stock worth $23,824,113 in the last 90 days. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McDonald’s

Hedge funds have recently made changes to their positions in the stock. Evergreen Private Wealth LLC boosted its position in shares of McDonald’s by 162.5% during the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after purchasing an additional 52 shares during the period. Your Advocates Ltd. LLP acquired a new stake in McDonald’s in the fourth quarter valued at $27,000. Park Place Capital Corp lifted its position in McDonald’s by 95.7% in the fourth quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock valued at $28,000 after acquiring an additional 45 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in McDonald’s in the fourth quarter valued at $29,000. Finally, Abound Financial LLC purchased a new stake in McDonald’s in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Key McDonald’s News

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

• Positive Sentiment: McDonald’s beat Q1 earnings and revenue estimates, with EPS of $2.83 and revenue of $6.52 billion, helping reassure investors that the brand is still executing well in a tougher consumer environment. Article Title
• Positive Sentiment: Global comparable sales rose 3.8%, supported by value meals, loyalty spending, and new menu items such as the Big Arch burger and specialty drinks, showing McDonald’s value push is driving traffic and sales growth. Article Title
• Positive Sentiment: Several analysts kept bullish ratings even as they trimmed price targets, reflecting confidence that McDonald’s can keep gaining share and recover if consumer demand stabilizes. Article Title

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.