Morgan Stanley Lowers McDonald’s (NYSE:MCD) Price Target to $336.00

McDonald’s (NYSE:MCD) had its price objective lowered by research analysts at Morgan Stanley from $340.00 to $336.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the fast-food giant’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.61% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Citigroup raised McDonald’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $311.00 to $334.00 in a report on Friday, January 10th. Wells Fargo & Company lifted their price target on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Truist Financial dropped their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.22.

McDonald’s Stock Performance

NYSE MCD opened at $280.90 on Tuesday. McDonald’s has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a market capitalization of $201.30 billion, a PE ratio of 24.66, a P/E/G ratio of 3.65 and a beta of 0.73. The stock has a 50-day simple moving average of $292.12 and a 200 day simple moving average of $287.72.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the firm earned $3.19 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that McDonald’s will post 11.73 EPS for the current fiscal year.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,704 shares of company stock valued at $2,829,428 over the last 90 days. 0.23% of the stock is owned by company insiders.

Institutional Trading of McDonald’s

Several hedge funds have recently added to or reduced their stakes in the business. Steigerwald Gordon & Koch Inc. raised its stake in shares of McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after purchasing an additional 33 shares during the period. Riversedge Advisors LLC raised its position in McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after acquiring an additional 33 shares during the period. Proquility Private Wealth Partners LLC boosted its stake in McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares during the last quarter. Clear Creek Financial Management LLC grew its position in shares of McDonald’s by 2.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after acquiring an additional 35 shares during the period. Finally, GDS Wealth Management increased its stake in shares of McDonald’s by 1.4% during the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

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.