McDonald’s’ (MCD) Buy Rating Reiterated at Loop Capital

Loop Capital reiterated their buy rating on shares of McDonald’s (NYSE:MCD) in a research note published on Friday morning,Benzinga reports. The firm currently has a $342.00 target price on the fast-food giant’s stock.

MCD has been the topic of a number of other research reports. Citigroup increased their price objective on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, Truist Financial reduced 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. Twelve analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $320.65.

McDonald’s Stock Up 0.8 %

Shares of NYSE:MCD opened at $294.78 on Friday. McDonald’s has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a market capitalization of $211.25 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. The firm has a fifty day moving average of $294.57 and a two-hundred day moving average of $284.66.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that McDonald’s will post 11.75 earnings per share for the current fiscal year.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the sale, the insider now directly owns 10,385 shares in the company, valued at $3,036,366.30. The trade was a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,050 shares of company stock valued at $3,556,688. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of McDonald’s by 1.4% in the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after purchasing an additional 220,365 shares during the last quarter. Wellington Management Group LLP boosted its stake in McDonald’s by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after purchasing an additional 128,800 shares during the period. Legal & General Group Plc grew its holdings in McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after buying an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

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.