Piper Jaffray Companies Boosts McDonald’s (MCD) Price Target to $185.00

McDonald’s (NYSE:MCD) had its target price boosted by Piper Jaffray Companies from $175.00 to $185.00 in a report issued on Thursday. The firm presently has an “overweight” rating on the fast-food giant’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 6.60% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Mizuho reaffirmed a “buy” rating and issued a $173.00 target price (up from $170.00) on shares of McDonald’s in a research report on Wednesday, September 13th. Goldman Sachs Group set a $173.00 target price on shares of McDonald’s and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Robert W. Baird reaffirmed a “buy” rating and issued a $170.00 target price on shares of McDonald’s in a research report on Friday, September 1st. Deutsche Bank set a $185.00 target price on shares of McDonald’s and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $175.00 target price on shares of McDonald’s in a research report on Friday, September 8th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $175.05.

Shares of McDonald’s (MCD) traded up $1.32 during trading on Thursday, reaching $173.55. 2,554,000 shares of the company’s stock were exchanged, compared to its average volume of 3,450,031. The company has a market cap of $137,299.28, a price-to-earnings ratio of 26.91, a PEG ratio of 2.82 and a beta of 0.67. McDonald’s has a 1-year low of $118.18 and a 1-year high of $174.44. The company has a debt-to-equity ratio of -8.17, a quick ratio of 1.27 and a current ratio of 1.28.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.01. McDonald’s had a net margin of 24.19% and a negative return on equity of 216.45%. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same period last year, the company posted $1.62 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. sell-side analysts expect that McDonald’s will post 6.53 earnings per share for the current year.

In other news, insider Stephen Easterbrook sold 171,577 shares of McDonald’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $168.32, for a total value of $28,879,840.64. Following the completion of the sale, the insider now directly owns 49,778 shares in the company, valued at $8,378,632.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James R. Sappington sold 8,046 shares of McDonald’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,327,590.00. Following the completion of the sale, the vice president now owns 15,739 shares of the company’s stock, valued at $2,596,935. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in MCD. Shelton Capital Management grew its position in McDonald’s by 3.8% during the third quarter. Shelton Capital Management now owns 27,797 shares of the fast-food giant’s stock valued at $4,355,000 after buying an additional 1,030 shares during the period. Burgundy Asset Management Ltd. grew its position in McDonald’s by 0.5% during the third quarter. Burgundy Asset Management Ltd. now owns 1,414,684 shares of the fast-food giant’s stock valued at $221,653,000 after buying an additional 6,847 shares during the period. Chicago Partners Investment Group LLC grew its position in McDonald’s by 4.6% during the third quarter. Chicago Partners Investment Group LLC now owns 10,826 shares of the fast-food giant’s stock valued at $1,696,000 after buying an additional 475 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in McDonald’s during the third quarter valued at approximately $5,954,000. Finally, GSA Capital Partners LLP bought a new stake in McDonald’s during the third quarter valued at approximately $1,517,000. Hedge funds and other institutional investors own 67.40% of the company’s stock.

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McDonald’s Company Profile

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.