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

McDonald’s (NYSE:MCD) had its price objective increased by Piper Jaffray Companies from $175.00 to $185.00 in a research report issued to clients and investors on Thursday. The firm presently has an “overweight” rating on the fast-food giant’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 6.29% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Robert W. Baird reiterated an “outperform” rating and set a $170.00 price target on shares of McDonald’s in a research report on Tuesday, October 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $175.00 price target on shares of McDonald’s in a research report on Friday, September 8th. Zacks Investment Research cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Sanford C. Bernstein set a $180.00 target price on shares of McDonald’s and gave the stock a “buy” rating in a report on Tuesday, September 19th. Finally, Mizuho restated a “buy” rating and issued a $173.00 target price (up previously from $170.00) on shares of McDonald’s in a report on Wednesday, September 13th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. McDonald’s presently has an average rating of “Buy” and an average price target of $175.05.

McDonald’s (NYSE MCD) opened at $174.06 on Thursday. McDonald’s has a 52-week low of $118.18 and a 52-week high of $175.09. The company has a debt-to-equity ratio of -8.17, a quick ratio of 1.27 and a current ratio of 1.28. The company has a market cap of $138,024.72, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 2.83 and a beta of 0.67.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.75 billion. During the same period last year, the business earned $1.62 earnings per share. The business’s quarterly revenue was down 10.4% on a year-over-year basis. equities research analysts predict that McDonald’s will post 6.53 EPS for the current fiscal year.

In related news, insider Stephen Easterbrook sold 171,577 shares of McDonald’s stock in a transaction 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 sale, the insider now owns 49,778 shares in the company, valued at $8,378,632.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP James R. Sappington sold 8,046 shares of McDonald’s stock in a transaction on Wednesday, October 25th. The shares were 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 in the company, valued at approximately $2,596,935. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC lifted its position in McDonald’s by 7.0% during the third quarter. Parametric Portfolio Associates LLC now owns 2,244,975 shares of the fast-food giant’s stock valued at $351,743,000 after buying an additional 146,314 shares during the period. Shelton Capital Management lifted 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. lifted 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 lifted 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. Finally, Steward Partners Investment Advisory LLC purchased a new position in McDonald’s during the third quarter valued at $5,954,000. 67.40% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for McDonald`s (NYSE:MCD)

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