McDonald’s (NYSE:MCD) PT Raised to $320.00 at Evercore ISI

McDonald’s (NYSE:MCD) had its price target raised by analysts at Evercore ISI from $300.00 to $320.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the fast-food giant’s stock. Evercore ISI’s target price would indicate a potential upside of 12.22% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Guggenheim increased their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays reduced their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Bank of America cut their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $303.71.

McDonald’s Price Performance

NYSE MCD traded up $6.67 on Monday, hitting $285.16. 755,574 shares of the stock were exchanged, compared to its average volume of 3,550,906. The business’s fifty day moving average is $258.71 and its 200 day moving average is $270.87. McDonald’s has a 52 week low of $243.53 and a 52 week high of $302.39. The company has a market capitalization of $205.51 billion, a PE ratio of 24.21, a P/E/G ratio of 3.58 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the company earned $3.17 earnings per share. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts predict that McDonald’s will post 11.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,794 shares of company stock worth $1,234,491. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. lifted its position in shares of McDonald’s by 7.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 58,352 shares of the fast-food giant’s stock valued at $14,870,000 after buying an additional 4,153 shares in the last quarter. Regal Investment Advisors LLC lifted its position in shares of McDonald’s by 3.0% during the 2nd quarter. Regal Investment Advisors LLC now owns 30,179 shares of the fast-food giant’s stock valued at $7,691,000 after buying an additional 891 shares in the last quarter. Quarry LP lifted its position in shares of McDonald’s by 54.6% during the 2nd quarter. Quarry LP now owns 609 shares of the fast-food giant’s stock valued at $155,000 after buying an additional 215 shares in the last quarter. Second Line Capital LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at about $221,000. Finally, William B. Walkup & Associates Inc. purchased a new position in shares of McDonald’s during the 2nd quarter valued at about $959,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

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.