McDonald's (NYSE:MCD) Given New $365.00 Price Target at Citigroup

McDonald's (NYSE:MCD - Get Free Report) had its price objective upped by investment analysts at Citigroup from $364.00 to $365.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the fast-food giant's stock. Citigroup's price target indicates a potential upside of 21.88% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley restated an "equal weight" rating and issued a $324.00 target price (down previously from $329.00) on shares of McDonald's in a report on Monday, June 9th. Argus cut shares of McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Truist Financial lifted their price target on shares of McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a report on Wednesday. Redburn Atlantic reiterated a "sell" rating and issued a $260.00 price target (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $345.00 price target (up previously from $340.00) on shares of McDonald's in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $322.29.

McDonald's Stock Up 2.2%

Shares of McDonald's stock traded up $6.47 on Wednesday, hitting $299.49. The stock had a trading volume of 699,939 shares, compared to its average volume of 3,521,280. McDonald's has a one year low of $245.90 and a one year high of $326.32. The stock has a market cap of $214.14 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.04 and a beta of 0.53. The stock's 50-day simple moving average is $304.66 and its two-hundred day simple moving average is $302.39.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter last year, the business earned $2.70 earnings per share. The business's revenue was down 3.5% on a year-over-year basis. As a group, equities analysts predict that McDonald's will post 12.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 2,817 shares of company stock valued at $865,843. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McDonald's

A number of hedge funds have recently bought and sold shares of the business. WealthPlan Investment Management LLC grew its position in McDonald's by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after buying an additional 32 shares in the last quarter. Granite Bay Wealth Management LLC grew its position in McDonald's by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after buying an additional 33 shares in the last quarter. CVA Family Office LLC grew its position in McDonald's by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after buying an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC grew its position in McDonald's by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after buying an additional 33 shares in the last quarter. Finally, Security Financial Services INC. boosted its holdings in shares of McDonald's by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock worth $1,575,000 after purchasing an additional 33 shares in the last quarter. 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.