McDonald’s (NYSE:MCD) Price Target Cut to $310.00 by Analysts at Jefferies Financial Group

McDonald’s (NYSE:MCD) had its price target dropped by equities research analysts at Jefferies Financial Group from $320.00 to $310.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the fast-food giant’s stock. Jefferies Financial Group’s target price suggests a potential upside of 18.58% from the company’s current price.

A number of other analysts have also issued reports on the company. TD Cowen reaffirmed a “buy” rating and issued a $285.00 price target on shares of McDonald’s in a research note on Monday. JPMorgan Chase & Co. lowered their price objective on McDonald’s from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Erste Group Bank reissued a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. UBS Group lowered their price objective on McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Finally, Guggenheim lowered their price objective on McDonald’s from $315.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $305.26.

McDonald’s Trading Up 3.7 %

MCD traded up $9.42 during trading on Monday, hitting $261.42. The company’s stock had a trading volume of 9,373,134 shares, compared to its average volume of 3,517,634. McDonald’s has a twelve month low of $243.53 and a twelve month high of $302.39. The business’s fifty day simple moving average is $255.44 and its 200 day simple moving average is $273.52. The firm has a market capitalization of $188.40 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.92 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates 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 was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.63 earnings per share. As a group, equities research analysts forecast that McDonald’s will post 12.05 earnings per share for the current fiscal year.

Insider Activity at McDonald’s

In related news, EVP Jonathan Banner sold 800 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated 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 owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold 5,594 shares of company stock valued at $1,454,507 over the last quarter. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MCD. Norges Bank purchased a new position in McDonald’s in the fourth quarter valued at about $2,684,899,000. Gallagher Fiduciary Advisors LLC increased its holdings in McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after buying an additional 5,609,736 shares in the last quarter. Capital Research Global Investors increased its holdings in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares in the last quarter. International Assets Investment Management LLC increased its holdings in McDonald’s by 10,702.5% in the fourth quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after buying an additional 2,154,297 shares in the last quarter. Finally, Swedbank AB purchased a new position in McDonald’s in the first quarter valued at about $348,206,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

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.