Barclays Cuts McDonald’s (NYSE:MCD) Price Target to $358.00

McDonald’s (NYSE:MCD) had its price objective decreased by Barclays from $362.00 to $358.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the fast-food giant’s stock. Barclays‘s target price suggests a potential upside of 17.92% from the company’s current price.

Several other equities research analysts have also commented on the stock. Bank of America cut their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a report on Thursday, July 10th. Evercore ISI upped their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. TD Cowen upped their target price on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Finally, Citigroup dropped their target price on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Hold” and a consensus target price of $323.26.

McDonald’s Stock Performance

Shares of MCD traded down $2.06 during trading hours on Thursday, hitting $303.61. The stock had a trading volume of 194,708 shares, compared to its average volume of 3,437,541. The firm has a market capitalization of $216.66 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 3.23 and a beta of 0.50. The firm has a 50-day moving average price of $304.94 and a 200 day moving average price of $305.25. McDonald’s has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 EPS. As a group, analysts predict that McDonald’s will post 12.25 EPS for the current fiscal year.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of McDonald’s

Large investors have recently made changes to their positions in the company. Brighton Jones LLC increased its stake in McDonald’s by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in McDonald’s by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after purchasing an additional 52 shares during the last quarter. SSA Swiss Advisors AG purchased a new position in McDonald’s in the first quarter valued at approximately $175,000. Penserra Capital Management LLC increased its stake in McDonald’s by 48.6% in the first quarter. Penserra Capital Management LLC now owns 2,781 shares of the fast-food giant’s stock valued at $867,000 after purchasing an additional 909 shares during the last quarter. Finally, LBP AM SA purchased a new position in McDonald’s in the first quarter valued at approximately $3,667,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.