McDonald’s (NYSE:MCD) Given New $310.00 Price Target at Argus

McDonald’s (NYSE:MCD) had its price objective lowered by equities researchers at Argus from $320.00 to $310.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the fast-food giant’s stock. Argus’ price objective would suggest a potential upside of 15.74% from the company’s previous close.

MCD has been the topic of several other reports. Wells Fargo & Company lowered their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft increased their price objective on McDonald’s from $335.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler set a $286.00 target price on McDonald’s in a report on Tuesday, August 4th. Cfra raised McDonald’s to a “buy” rating in a research report on Friday, May 8th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $322.96.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $267.85 on Wednesday. The stock has a 50-day simple moving average of $271.68 and a 200-day simple moving average of $292.78. McDonald’s has a 52-week low of $260.96 and a 52-week high of $341.75. The firm has a market cap of $189.54 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 3.05 and a beta of 0.41.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 EPS for the quarter, topping the consensus estimate of $3.32 by $0.06. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.13 billion. McDonald’s had a net margin of 31.72% and a negative return on equity of 572.06%. McDonald’s’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.19 EPS. As a group, equities research analysts predict that McDonald’s will post 12.88 earnings per share for the current year.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 5,252 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total value of $1,493,248.64. Following the completion of the sale, the insider directly owned 7,734 shares of the company’s stock, valued at $2,198,930.88. This represents a 40.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of McDonald’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the sale, the executive vice president directly owned 6,268 shares in the company, valued at approximately $1,744,760.48. This trade represents a 30.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in McDonald’s by 27,036.7% in the 2nd quarter. California State Teachers Retirement System now owns 302,891,546 shares of the fast-food giant’s stock valued at $81,874,614,000 after buying an additional 301,775,375 shares in the last quarter. State Street Corp grew its holdings in shares of McDonald’s by 2.7% in the 4th quarter. State Street Corp now owns 35,983,997 shares of the fast-food giant’s stock worth $10,997,789,000 after purchasing an additional 959,140 shares during the last quarter. Geode Capital Management LLC increased its position in shares of McDonald’s by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 17,038,519 shares of the fast-food giant’s stock worth $5,195,965,000 after purchasing an additional 76,090 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in McDonald’s by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,474,749 shares of the fast-food giant’s stock valued at $2,895,768,000 after buying an additional 277,617 shares in the last quarter. Finally, Norges Bank bought a new stake in McDonald’s during the fourth quarter worth about $2,890,438,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s News Roundup

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: Analyst view improves: Robert W. Baird upgraded McDonald’s to “hold,” which is less negative than its previous rating and may provide modest support for MCD after the recent sell-off. McDonald’s analyst upgrade
• Positive Sentiment: Digital platform offers a growth opportunity: McDonald’s is nearing completion of a unified digital platform across major markets. The initiative could improve personalization, customer engagement and restaurant productivity, supporting sales and margins over time. McDonald’s unified digital platform
• Positive Sentiment: Menu innovation and hiring support traffic prospects: The return of Spicy Chicken McNuggets, limited-time Happy Meal promotions and new beverages—including offerings aimed at the growing cold-drink category—could help attract customers. Franchisees also plan to add more than 1,000 workers in South Florida, signaling local operating expansion. South Florida McDonald’s hiring

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.