Truist Financial Lowers McDonald’s (NYSE:MCD) Price Target to $300.00

McDonald’s (NYSE:MCD) had its price target lowered by Truist Financial from $320.00 to $300.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the fast-food giant’s stock. Truist Financial’s target price points to a potential upside of 19.79% from the stock’s current price.

A number of other brokerages also recently issued reports on MCD. Evercore ISI reiterated an “outperform” rating and set a $330.00 price target on shares of McDonald’s in a research report on Wednesday, March 27th. Bank of America decreased their price target on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Guggenheim cut their target price on shares of McDonald’s from $315.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Citigroup lowered their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Finally, Wedbush reduced their price objective on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.82.

McDonald’s Stock Up 1.9 %

Shares of MCD opened at $250.44 on Tuesday. The business’s 50-day moving average price is $259.19 and its 200-day moving average price is $276.86. McDonald’s has a twelve month low of $243.53 and a twelve month high of $302.39. The stock has a market cap of $180.49 billion, a PE ratio of 21.26, a P/E/G ratio of 2.79 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.63 earnings per share. Analysts expect that McDonald’s will post 12.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The disclosure for this sale can be found here. Insiders sold a total of 5,593 shares of company stock valued at $1,472,518 over the last three months. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Roffman Miller Associates Inc. PA increased its stake in McDonald’s by 1.7% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after purchasing an additional 2,546 shares in the last quarter. Shulman DeMeo Asset Management LLC boosted its stake in McDonald’s by 12.2% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after purchasing an additional 114 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of McDonald’s in the fourth quarter worth $4,286,000. Strait & Sound Wealth Management LLC bought a new position in shares of McDonald’s during the fourth quarter valued at $211,000. Finally, First National Bank of Mount Dora Trust Investment Services increased its holdings in McDonald’s by 2.8% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after buying an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Company Profile

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.