McDonald’s (NYSE:MCD – Get Free Report) was downgraded by Argus from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat Ratings reports.
Other research analysts have also issued research reports about the stock. Piper Sandler lifted their price objective on shares of McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Citigroup lifted their price objective on shares of McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. KeyCorp lifted their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Finally, Truist Financial set a $350.00 price objective on shares of McDonald’s in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average price target of $321.79.
Read Our Latest Research Report on MCD
McDonald’s Trading Down 0.5%
McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 EPS. As a group, equities research analysts anticipate that McDonald’s will post 12.25 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On McDonald’s
A number of institutional investors have recently added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. acquired a new position in McDonald’s during the fourth quarter worth $25,000. Atala Financial Inc bought a new position in McDonald’s during the fourth quarter worth $26,000. HFM Investment Advisors LLC bought a new position in McDonald’s during the first quarter worth $26,000. Nova Wealth Management Inc. bought a new position in McDonald’s during the first quarter worth $26,000. Finally, Pinney & Scofield Inc. bought a new position in McDonald’s during the fourth quarter worth $29,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.
About McDonald’s
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.
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