KeyCorp Has Lowered Expectations for McDonald’s (NYSE:MCD) Stock Price

McDonald’s (NYSE:MCD) had its price target reduced by KeyCorp from $330.00 to $320.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. KeyCorp’s price target suggests a potential upside of 12.14% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. TD Cowen reiterated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets increased their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.78.

McDonald’s Trading Up 0.3 %

Shares of NYSE:MCD opened at $285.37 on Friday. The firm has a market capitalization of $204.50 billion, a PE ratio of 25.05, a PEG ratio of 3.66 and a beta of 0.73. McDonald’s has a 1-year low of $243.53 and a 1-year high of $317.90. The business’s 50 day moving average is $291.07 and its 200-day moving average is $288.14.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 EPS. On average, sell-side analysts predict that McDonald’s will post 11.72 EPS for the current year.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,905 shares of company stock valued at $2,592,327. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

A number of hedge funds and other institutional investors have recently made changes to their positions in MCD. International Assets Investment Management LLC raised its stake in McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of McDonald’s by 542.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after purchasing an additional 677,139 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of McDonald’s during the 3rd quarter valued at about $121,254,000. Zurich Insurance Group Ltd FI grew its position in shares of McDonald’s by 3,580.1% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after purchasing an additional 261,350 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in McDonald’s during the 4th quarter worth approximately $64,805,000. 70.29% of the stock is owned by 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.