Telsey Advisory Group Boosts McDonald’s (NYSE:MCD) Price Target to $260.00

McDonald’s (NYSE:MCD) had its target price increased by stock analysts at Telsey Advisory Group from $250.00 to $260.00 in a research report issued to clients and investors on Tuesday, PriceTargets.com reports. The firm presently has an “outperform” rating on the fast-food giant’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 10.38% from the company’s previous close.

Several other brokerages have also commented on MCD. KeyCorp raised their price objective on McDonald’s from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday. Wedbush lifted their price objective on McDonald’s from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday. Credit Suisse Group lifted their price objective on McDonald’s from $238.00 to $261.00 and gave the stock an “outperform” rating in a report on Friday. Stephens boosted their price target on McDonald’s from $225.00 to $232.00 and gave the company an “equal weight” rating in a research note on Thursday, January 7th. Finally, Morgan Stanley boosted their price objective on McDonald’s from $250.00 to $259.00 and gave the company an “overweight” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $242.37.

McDonald’s stock opened at $235.56 on Tuesday. The firm has a 50 day simple moving average of $228.71 and a 200 day simple moving average of $217.45. The firm has a market capitalization of $175.75 billion, a price-to-earnings ratio of 35.96, a P/E/G ratio of 3.17 and a beta of 0.58. McDonald’s has a 1-year low of $167.85 and a 1-year high of $238.18.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, April 29th. The fast-food giant reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.11. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.02 billion. McDonald’s had a net margin of 25.60% and a negative return on equity of 53.62%. McDonald’s’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.47 earnings per share. Equities research analysts anticipate that McDonald’s will post 6.16 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of MCD. Schonfeld Strategic Advisors LLC raised its holdings in McDonald’s by 33.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 27,239 shares of the fast-food giant’s stock worth $5,979,000 after purchasing an additional 6,893 shares during the period. Van ECK Associates Corp increased its position in shares of McDonald’s by 35.5% during the third quarter. Van ECK Associates Corp now owns 7,439 shares of the fast-food giant’s stock worth $1,633,000 after acquiring an additional 1,947 shares in the last quarter. Private Trust Co. NA increased its position in shares of McDonald’s by 0.9% during the fourth quarter. Private Trust Co. NA now owns 17,242 shares of the fast-food giant’s stock worth $3,699,000 after acquiring an additional 161 shares in the last quarter. Private Asset Management Inc. grew its position in McDonald’s by 10.8% in the fourth quarter. Private Asset Management Inc. now owns 2,218 shares of the fast-food giant’s stock valued at $476,000 after purchasing an additional 217 shares in the last quarter. Finally, Woodstock Corp grew its position in McDonald’s by 7.4% in the fourth quarter. Woodstock Corp now owns 21,295 shares of the fast-food giant’s stock valued at $4,569,000 after purchasing an additional 1,466 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2020, the company operated 39,198 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

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Analyst Recommendations for McDonald`s (NYSE:MCD)

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