Morgan Stanley Increases McDonald's (NYSE:MCD) Price Target to $259.00

Last updated on Friday, April 30, 2021 | 2021 MarketBeat

McDonald's (NYSE:MCD) had its price objective upped by stock analysts at Morgan Stanley from $250.00 to $259.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "overweight" rating on the fast-food giant's stock. Morgan Stanley's target price suggests a potential upside of 10.11% from the company's previous close.

A number of other analysts have also issued reports on the stock. Wedbush lifted their price objective on shares of McDonald's from $255.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on McDonald's from $215.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, April 19th. Jefferies Financial Group restated a "buy" rating and set a $265.00 price objective on shares of McDonald's in a research note on Monday, April 12th. Stephens upped their target price on McDonald's from $225.00 to $232.00 and gave the company an "equal weight" rating in a research report on Thursday, January 7th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of McDonald's in a research report on Monday, January 4th. They set a "neutral" rating and a $230.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company has a consensus rating of "Buy" and an average price target of $241.65.

Shares of McDonald's stock opened at $235.21 on Friday. The company has a market capitalization of $175.49 billion, a P/E ratio of 35.91, a P/E/G ratio of 3.17 and a beta of 0.58. McDonald's has a 1 year low of $167.85 and a 1 year high of $235.80. The business has a 50 day moving average price of $226.84 and a 200 day moving average price of $217.28.

McDonald's (NYSE:MCD) last announced its quarterly earnings data on Thursday, April 29th. The fast-food giant reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $1.81 by $0.11. McDonald's had a net margin of 25.60% and a negative return on equity of 53.62%. The company had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.02 billion. During the same period in the previous year, the company earned $1.47 EPS. The business's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that McDonald's will post 6.16 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of MCD. Norges Bank acquired a new stake in McDonald's in the 4th quarter valued at approximately $1,616,206,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of McDonald's by 120.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,022,688 shares of the fast-food giant's stock valued at $219,448,000 after purchasing an additional 557,891 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in shares of McDonald's by 36.1% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,522,335 shares of the fast-food giant's stock valued at $326,661,000 after purchasing an additional 404,133 shares during the period. Nuveen Asset Management LLC increased its position in shares of McDonald's by 7.5% during the 4th quarter. Nuveen Asset Management LLC now owns 5,762,077 shares of the fast-food giant's stock valued at $1,236,427,000 after purchasing an additional 401,671 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of McDonald's by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,703,214 shares of the fast-food giant's stock valued at $1,009,212,000 after purchasing an additional 344,384 shares during the period. Hedge funds and other institutional investors own 66.25% of the company's stock.

McDonald's Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2020, the company operated 39,198 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

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