KeyCorp Lowers McDonald’s (NYSE:MCD) Price Target to $315.00

McDonald’s (NYSE:MCD) had its price objective lowered by KeyCorp from $330.00 to $315.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s target price indicates a potential upside of 16.58% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Tigress Financial increased their target price on McDonald’s from $360.00 to $385.00 and gave the company a “buy” rating in a report on Friday, March 6th. Barclays decreased their price target on McDonald’s from $380.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings downgraded McDonald’s from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Morgan Stanley set a $331.00 price objective on McDonald’s in a research note on Friday, May 8th. Finally, Wells Fargo & Company cut their target price on shares of McDonald’s from $355.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.70.

McDonald’s Stock Up 0.2%

McDonald’s stock opened at $270.21 on Monday. The company has a market capitalization of $191.98 billion, a PE ratio of 22.28, a P/E/G ratio of 2.69 and a beta of 0.41. The firm has a fifty day simple moving average of $283.43 and a two-hundred day simple moving average of $304.51. McDonald’s has a twelve month low of $264.53 and a twelve month high of $341.75.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.09. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the business posted $2.67 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that McDonald’s will post 12.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the completion of the sale, the executive vice president owned 6,268 shares of the company’s stock, valued at $1,744,760.48. This trade represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the completion of the sale, the insider owned 7,734 shares in the company, valued at approximately $2,198,930.88. This trade represents a 40.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 11,307 shares of company stock valued at $3,262,622. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of McDonald’s

Institutional investors and hedge funds have recently bought and sold shares of the stock. Your Advocates Ltd. LLP bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $27,000. Park Place Capital Corp raised its holdings 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 worth $28,000 after purchasing an additional 45 shares in the last quarter. IFC & Insurance Marketing Inc. bought a new position in McDonald’s in the fourth quarter worth $29,000. Abound Financial LLC purchased a new position in McDonald’s during the fourth quarter valued at $30,000. Finally, DecisionPoint Financial LLC lifted its position in McDonald’s by 1,616.7% during the fourth quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant’s stock valued at $31,000 after buying an additional 97 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.