Mcdonald’s (MCD) PT Raised to $189.00 at Citigroup

Mcdonald’s (NYSE:MCD) had its price target hoisted by equities researchers at Citigroup from $171.00 to $189.00 in a report issued on Tuesday. The brokerage currently has a “neutral” rating on the fast-food giant’s stock. Citigroup’s price objective suggests a potential upside of 7.20% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada set a $175.00 target price on Mcdonald’s and gave the company a “buy” rating in a research report on Thursday, July 26th. Goldman Sachs Group reissued a “buy” rating and issued a $178.00 target price on shares of Mcdonald’s in a research report on Tuesday, July 24th. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 target price on shares of Mcdonald’s in a research report on Wednesday, July 11th. Cowen reissued a “buy” rating and issued a $190.00 target price on shares of Mcdonald’s in a research report on Friday, July 27th. Finally, Barclays reissued a “buy” rating and issued a $194.00 target price on shares of Mcdonald’s in a research report on Monday, August 20th. Seven equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $188.93.

Shares of MCD traded down $0.59 during midday trading on Tuesday, hitting $176.31. 149,286 shares of the company’s stock traded hands, compared to its average volume of 4,673,564. Mcdonald’s has a 1 year low of $146.84 and a 1 year high of $178.96. The firm has a market cap of $138.47 billion, a PE ratio of 26.47, a P/E/G ratio of 2.62 and a beta of 0.66.

Mcdonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.11. Mcdonald’s had a negative return on equity of 130.19% and a net margin of 24.56%. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the firm earned $1.76 EPS. The firm’s revenue was down 6.7% on a year-over-year basis. Research analysts forecast that Mcdonald’s will post 7.75 earnings per share for the current fiscal year.

In other news, CEO Stephen Easterbrook sold 201,123 shares of the stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the sale, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at approximately $8,592,697.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Francesca A. Debiase sold 15,136 shares of the stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $176.17, for a total transaction of $2,666,509.12. Following the sale, the executive vice president now directly owns 17,306 shares in the company, valued at $3,048,798.02. The disclosure for this sale can be found here. Insiders have sold a total of 221,041 shares of company stock worth $38,839,407 over the last ninety days. 0.22% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Mcdonald’s by 5.5% during the 2nd quarter. FMR LLC now owns 19,483,955 shares of the fast-food giant’s stock worth $3,052,941,000 after acquiring an additional 1,014,792 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new position in Mcdonald’s in the 2nd quarter valued at about $1,191,239,000. Janus Henderson Group PLC lifted its stake in Mcdonald’s by 5.4% in the 2nd quarter. Janus Henderson Group PLC now owns 8,107,972 shares of the fast-food giant’s stock valued at $1,270,446,000 after buying an additional 412,750 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in Mcdonald’s by 0.4% in the 2nd quarter. Magellan Asset Management Ltd now owns 5,955,794 shares of the fast-food giant’s stock valued at $933,213,000 after buying an additional 20,873 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Mcdonald’s by 9.6% in the 2nd quarter. Morgan Stanley now owns 5,947,311 shares of the fast-food giant’s stock valued at $931,884,000 after buying an additional 522,333 shares in the last quarter. 66.92% of the stock is currently owned by institutional investors and hedge funds.

About Mcdonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.

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