Bank of America Boosts McDonald's (NYSE:MCD) Price Target to $324.00

McDonald's (NYSE:MCD - Get Free Report) had its price target upped by stock analysts at Bank of America from $321.00 to $324.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the fast-food giant's stock. Bank of America's price objective points to a potential upside of 10.62% from the stock's previous close.

Several other research analysts have also issued reports on MCD. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McDonald's from $295.00 to $290.00 and set a "buy" rating for the company in a report on Tuesday, July 30th. Evercore ISI lifted their target price on shares of McDonald's from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 15th. UBS Group increased their price target on McDonald's from $305.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Barclays increased their price target on McDonald's from $300.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Finally, TD Cowen reissued a "hold" rating and issued a $300.00 price objective on shares of McDonald's in a research note on Tuesday. Thirteen investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $318.74.

McDonald's Stock Down 0.7 %

Shares of MCD stock traded down $2.10 during trading hours on Wednesday, hitting $292.90. 2,277,108 shares of the company's stock traded hands, compared to its average volume of 3,512,017. The stock has a market cap of $210.11 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73. The stock's 50 day simple moving average is $298.15 and its 200 day simple moving average is $275.35. McDonald's has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald's had a negative return on equity of 178.68% and a net margin of 32.25%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.19 EPS. As a group, equities research analysts expect that McDonald's will post 11.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 1,098 shares of McDonald's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company's stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company's stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares in the company, valued at $3,036,366.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,097 shares of company stock valued at $10,256,818. Corporate insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On McDonald's

A number of hedge funds have recently modified their holdings of MCD. Steigerwald Gordon & Koch Inc. raised its stake in shares of McDonald's by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant's stock valued at $433,000 after buying an additional 33 shares during the period. Riversedge Advisors LLC raised its stake in McDonald's by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant's stock valued at $513,000 after acquiring an additional 33 shares during the period. Proquility Private Wealth Partners LLC lifted its holdings in McDonald's by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant's stock valued at $1,057,000 after purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC boosted its position in McDonald's by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant's stock worth $396,000 after purchasing an additional 35 shares during the period. Finally, Founders Financial Alliance LLC increased its stake in shares of McDonald's by 0.7% in the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant's stock worth $1,269,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

About McDonald's

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.

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