In a report released today, Jake Bartlett from Truist Financial maintained a Buy rating on McDonald’s (MCD – Research Report), with a price target of $320.00. The company’s shares closed yesterday at $274.43.
According to TipRanks, Bartlett is a top 100 analyst with an average return of 18.9% and a 63.31% success rate. Bartlett covers the Consumer Cyclical sector, focusing on stocks such as Wingstop, Chipotle, and Denny’s.
In addition to Truist Financial, McDonald’s also received a Buy from Guggenheim’s Gregory Francfort in a report issued today. However, yesterday, Bernstein maintained a Hold rating on McDonald’s (NYSE: MCD).
Based on McDonald’s’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.41 billion and a net profit of $2.04 billion. In comparison, last year the company earned a revenue of $5.93 billion and had a net profit of $1.9 billion
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MCD in relation to earlier this year. Most recently, in February 2024, Edith Morgan Flatley, the EVP – Global CMO of MCD sold 4,346.00 shares for a total of $1,283,460.72.
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McDonald’s (MCD) Company Description:
Founded in 1955, McDonald’s Corp. is world’s leading fast food chain that operates and franchises over 30,000 restaurants in more than 100 countries. More than 90% of McDonald’s restaurants are owned and operated by independent local business owners. Its popular products include Big Mac, Quarter Pounder with Cheese, Filet-O-Fish, Chicken McNuggets, McDonald’s Fries, McFlurry desserts, and McCafé beverages, among others. The company is headquartered in Oak Brook, Illinois.
Read More on MCD:
- McDonald’s price target lowered to $330 from $335 at BMO Capital
- McDonald’s price target lowered to $300 from $305 at Baird
- McDonald’s price target lowered to $290 from $300 at JPMorgan
- McDonald’s price target lowered to $310 from $315 at KeyBanc
- McDonald’s price target raised to $349 from $329 at HSBC
