McDonald's (NYSE:MCD) Price Target Raised to $362.00

Key Points

• Barclays has raised its price target for McDonald's stock from $360.00 to $362.00, indicating a potential upside of 17.78% from the current price, and maintains an "overweight" rating.
• McDonald's reported earnings of $3.19 per share for the last quarter, exceeding analysts' expectations, and had revenue of $6.84 billion, marking a 5.4% year-over-year increase.
• Currently, McDonald's has a consensus price target of $324.50, with eleven analysts rating the stock as a Buy, while the majority hold a Hold rating.

McDonald's (NYSE:MCD - Get Free Report) had its target price hoisted by stock analysts at Barclays from $360.00 to $362.00 in a report released on Wednesday,Briefing.com Automated Import reports. The firm currently has an "overweight" rating on the fast-food giant's stock. Barclays's price target indicates a potential upside of 17.78% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. KeyCorp reiterated an "overweight" rating and set a $335.00 price target on shares of McDonald's in a report on Monday. The Goldman Sachs Group upgraded McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target for the company in a report on Thursday, July 10th. Royal Bank Of Canada assumed coverage on McDonald's in a report on Wednesday, October 8th. They set a "sector perform" rating and a $320.00 price target for the company. BMO Capital Markets lifted their price target on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Finally, Stifel Nicolaus lifted their price target on McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a report on Friday, August 22nd. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $324.50.

McDonald's Stock Performance

NYSE:MCD opened at $307.36 on Wednesday. The stock's 50-day simple moving average is $306.47 and its 200 day simple moving average is $305.48. The company has a market cap of $219.33 billion, a P/E ratio of 26.34, a P/E/G ratio of 3.25 and a beta of 0.50. McDonald's has a 52-week low of $276.53 and a 52-week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald's's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 earnings per share. As a group, equities analysts predict that McDonald's will post 12.25 earnings per share for the current fiscal year.

Insider Transactions at McDonald's

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,463 shares of company stock worth $1,692,186 over the last quarter. Company insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On McDonald's

Institutional investors have recently made changes to their positions in the stock. First American Trust FSB boosted its stake in shares of McDonald's by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after buying an additional 13,234 shares during the period. Banque Transatlantique SA boosted its stake in shares of McDonald's by 58.0% in the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant's stock valued at $71,829,000 after buying an additional 91,313 shares during the period. Hamilton Capital LLC boosted its stake in shares of McDonald's by 35.2% in the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant's stock valued at $982,000 after buying an additional 819 shares during the period. Welch Group LLC boosted its stake in shares of McDonald's by 1.1% in the second quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant's stock valued at $60,188,000 after buying an additional 2,180 shares during the period. Finally, Red Door Wealth Management LLC boosted its stake in shares of McDonald's by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after buying an additional 109 shares during the period. 70.29% of the stock is currently owned by institutional investors.

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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