Piper Jaffray Companies Reiterates $170.00 Price Target for McDonald’s Corporation (MCD)

McDonald’s Corporation (NYSE:MCD) has been given a $170.00 target price by stock analysts at Piper Jaffray Companies in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the fast-food giant’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 4.20% from the stock’s previous close.

Several other brokerages have also recently weighed in on MCD. BidaskClub upgraded McDonald’s Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. Robert W. Baird reiterated an “outperform” rating and set a $170.00 price target on shares of McDonald’s Corporation in a research report on Tuesday, October 3rd. Canaccord Genuity reiterated a “hold” rating and set a $170.00 price target on shares of McDonald’s Corporation in a research report on Friday, October 6th. Barclays PLC reiterated an “overweight” rating and set a $173.00 price target (up from $164.00) on shares of McDonald’s Corporation in a research report on Wednesday, July 26th. Finally, Vetr upgraded McDonald’s Corporation from a “sell” rating to a “hold” rating and set a $159.47 price target for the company in a research report on Thursday, August 3rd. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $166.41.

Shares of McDonald’s Corporation (NYSE:MCD) traded up 0.5025% during trading on Thursday, reaching $163.9699. The company’s stock had a trading volume of 1,669,571 shares. McDonald’s Corporation has a 12-month low of $110.33 and a 12-month high of $164.40. The stock has a market capitalization of $132.81 billion, a PE ratio of 26.8407 and a beta of 0.69. The firm’s 50-day moving average is $158.38 and its 200-day moving average is $150.35.

McDonald’s Corporation (NYSE:MCD) last announced its quarterly earnings data on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.08. McDonald’s Corporation had a negative return on equity of 264.89% and a net margin of 21.00%. The firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same period last year, the business posted $1.45 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Equities analysts expect that McDonald’s Corporation will post $6.56 earnings per share for the current year.

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In other McDonald’s Corporation news, EVP David Ogden Fairhurst sold 4,782 shares of McDonald’s Corporation stock in a transaction on Monday, August 14th. The stock was sold at an average price of $157.05, for a total value of $751,013.10. Following the sale, the executive vice president now owns 6,954 shares in the company, valued at $1,092,125.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas M. Goare sold 17,286 shares of McDonald’s Corporation stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $2,739,831.00. The disclosure for this sale can be found here. Insiders sold 69,938 shares of company stock worth $11,033,009 in the last 90 days. Company insiders own 0.24% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in McDonald’s Corporation by 1.6% in the second quarter. Vanguard Group Inc. now owns 57,300,686 shares of the fast-food giant’s stock valued at $8,776,174,000 after purchasing an additional 906,303 shares during the period. BlackRock Inc. raised its holdings in shares of McDonald’s Corporation by 3.0% in the 2nd quarter. BlackRock Inc. now owns 54,606,388 shares of the fast-food giant’s stock valued at $8,363,515,000 after buying an additional 1,586,761 shares during the period. Capital World Investors raised its holdings in shares of McDonald’s Corporation by 2.8% in the 2nd quarter. Capital World Investors now owns 22,288,104 shares of the fast-food giant’s stock valued at $3,413,646,000 after buying an additional 606,232 shares during the period. Capital Research Global Investors raised its holdings in shares of McDonald’s Corporation by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 12,058,661 shares of the fast-food giant’s stock valued at $1,846,905,000 after buying an additional 1,572,074 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of McDonald’s Corporation by 3.1% in the 2nd quarter. Northern Trust Corp now owns 11,835,647 shares of the fast-food giant’s stock valued at $1,812,747,000 after buying an additional 360,212 shares during the period. Institutional investors own 67.92% of the company’s stock.

About McDonald’s Corporation

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.

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