McDonald's (NYSE:MCD) Price Target Raised to $360.00 at Truist Financial

Key Points

• Truist Financial has raised McDonald's price target from $356.00 to $360.00, indicating a potential upside of 17.41% from the current price, while maintaining a "buy" rating.
• McDonald's stock has seen recent fluctuations, currently trading down 0.3% at $306.61, with analysts projecting an average target price of $325.57.
• Insider trading activity has been significant, with the CMO selling shares and other insiders reducing their positions, reflecting concerns amidst the stock's performance.

McDonald's (NYSE:MCD - Get Free Report) had its price objective lifted by stock analysts at Truist Financial from $356.00 to $360.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the fast-food giant's stock. Truist Financial's price target indicates a potential upside of 17.41% from the company's current price.

Several other research firms have also commented on MCD. KeyCorp reaffirmed an "overweight" rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald's in a report on Thursday. Loop Capital cut McDonald's from a "buy" rating to a "hold" rating and dropped their target price for the company from $346.00 to $315.00 in a report on Friday, June 6th. Citigroup lifted their price target on McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Robert W. Baird increased their price objective on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Bank of America decreased their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $325.57.

McDonald's Stock Down 0.3%

MCD traded down $1.05 during trading on Thursday, reaching $306.61. 654,378 shares of the company were exchanged, compared to its average volume of 3,606,561. McDonald's has a 12-month low of $265.33 and a 12-month high of $326.32. The company has a market cap of $219.24 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 3.13 and a beta of 0.52. The company's 50-day moving average is $298.81 and its two-hundred day moving average is $303.99.

McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. During the same period in the previous year, the business earned $2.97 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that McDonald's will post 12.25 earnings per share for the current year.

Insider Buying and Selling

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. The trade was a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,280 shares of company stock valued at $2,215,178. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On McDonald's

Several hedge funds have recently modified their holdings of MCD. Mascagni Wealth Management Inc. bought a new position in McDonald's during the fourth quarter valued at approximately $25,000. Decker Retirement Planning Inc. lifted its holdings in shares of McDonald's by 142.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant's stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of McDonald's during the second quarter valued at approximately $25,000. HFM Investment Advisors LLC purchased a new stake in McDonald's in the first quarter worth $26,000. Finally, Nova Wealth Management Inc. bought a new position in shares of McDonald's in the first quarter worth about $26,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

About McDonald's

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.

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