McDonald's (NYSE:MCD) Upgraded at The Goldman Sachs Group

McDonald's (NYSE:MCD - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research note issued on Thursday, Marketbeat.com reports. The firm currently has a $345.00 target price on the fast-food giant's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 15.08% from the company's previous close.

Several other research firms have also recently commented on MCD. Truist Financial increased their price target on shares of McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup increased their price objective on McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a research report on Wednesday. Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and dropped their target price for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Finally, BTIG Research reiterated a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald's presently has a consensus rating of "Hold" and a consensus price target of $322.29.

McDonald's Stock Performance

McDonald's stock traded up $1.41 on Thursday, reaching $299.80. The company's stock had a trading volume of 4,494,100 shares, compared to its average volume of 3,528,540. McDonald's has a twelve month low of $246.12 and a twelve month high of $326.32. The company has a market cap of $214.37 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 3.13 and a beta of 0.53. The business's fifty day moving average price is $304.11 and its 200 day moving average price is $302.59.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly 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. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.70 EPS. As a group, equities analysts forecast that McDonald's will post 12.25 earnings per share for the current year.

Insider Transactions at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the transaction, the insider owned 10,222 shares in the company, valued at $2,949,251.44. The trade was a 8.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,817 shares of company stock worth $1,165,843. Company insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On McDonald's

Several institutional investors have recently modified their holdings of MCD. Mascagni Wealth Management Inc. bought a new position in shares of McDonald's during the 4th quarter valued at about $25,000. Atala Financial Inc acquired a new stake in McDonald's in the 4th quarter valued at approximately $26,000. HFM Investment Advisors LLC bought a new stake in McDonald's in the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new stake in McDonald's in the 1st quarter valued at approximately $26,000. Finally, Pinney & Scofield Inc. bought a new stake in McDonald's in the 4th quarter valued at approximately $29,000. Institutional investors own 70.29% of the company's stock.

McDonald's Company Profile

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.