Citigroup Lowers McDonald’s (NYSE:MCD) Price Target to $297.00

McDonald’s (NYSE:MCD) had its target price dropped by Citigroup from $312.00 to $297.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the fast-food giant’s stock. Citigroup’s price objective points to a potential upside of 10.02% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. HSBC assumed coverage on shares of McDonald’s in a report on Wednesday, December 20th. They set a “buy” rating and a $317.00 price target for the company. Stephens reissued an “overweight” rating and set a $320.00 price target on shares of McDonald’s in a report on Monday, February 5th. Wedbush reissued an “outperform” rating and set a $330.00 price target on shares of McDonald’s in a report on Tuesday, February 6th. TD Cowen reaffirmed a “buy” rating and issued a $325.00 price objective on shares of McDonald’s in a report on Wednesday, April 10th. Finally, Truist Financial reduced their price objective on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average target price of $319.72.

McDonald’s Trading Up 1.7 %

Shares of NYSE:MCD opened at $269.95 on Tuesday. McDonald’s has a 12-month low of $245.73 and a 12-month high of $302.39. The company has a fifty day simple moving average of $283.86 and a 200 day simple moving average of $280.69. The firm has a market cap of $194.64 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.12. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the previous year, the firm earned $2.59 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts forecast that McDonald’s will post 12.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now owns 18,075 shares in the company, valued at approximately $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Large investors have recently made changes to their positions in the business. D.B. Root & Company LLC grew its stake in shares of McDonald’s by 5.4% in the 1st quarter. D.B. Root & Company LLC now owns 6,014 shares of the fast-food giant’s stock valued at $1,696,000 after buying an additional 310 shares in the last quarter. Trilogy Capital Inc. grew its stake in shares of McDonald’s by 133.8% in the 1st quarter. Trilogy Capital Inc. now owns 1,665 shares of the fast-food giant’s stock valued at $469,000 after buying an additional 953 shares in the last quarter. Cornerstone Wealth Group LLC grew its stake in shares of McDonald’s by 59.0% in the 1st quarter. Cornerstone Wealth Group LLC now owns 31,153 shares of the fast-food giant’s stock valued at $8,784,000 after buying an additional 11,554 shares in the last quarter. River Street Advisors LLC grew its stake in shares of McDonald’s by 4.4% in the 1st quarter. River Street Advisors LLC now owns 4,000 shares of the fast-food giant’s stock valued at $1,128,000 after buying an additional 169 shares in the last quarter. Finally, Physician Wealth Advisors Inc. grew its stake in shares of McDonald’s by 8.8% in the 1st quarter. Physician Wealth Advisors Inc. now owns 1,750 shares of the fast-food giant’s stock valued at $465,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.