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Fresh Off 52 Wk Lows, McDonald’s (NYSE: MCD) Receives Updated $300 Target

Analyst Team trader
Updated 11 Jul 2024

McDonald's stock (NYSE: MCD) has experienced a recent shift in its price outlook from Truist Financial, who adjusted their price target from $320.00 to $300.00. Despite the decreased target, the firm maintains a buy rating on the shares of the fast-food behemoth.

MCD price trades up a little over 1% today, as the stock bounces off fresh 52 week lows of 243.53. From the 52wk high of 302.39, there has been a big pullback on the chart. 14% losses over 12 months will not have been what holders of McDonalds would have been looking for, but for technical traders, any long-term upside momentum potentially sets up the early phases of a double bottom pattern on the 1 year.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


This recalibration of McDonald's value by Truist Financial forms part of a broader analytical discourse, as multiple research reports circulate, offering a range of price targets and ratings from various market analysts. These differential perspectives evidence the dynamic and multifaceted nature of stock assessment within the fast-food sector.

Analyzing the activity over the past ninety days, insiders have cumulatively sold 5,593 shares. Currently, McDonald's insiders retain ownership of a modest 0.23% of the company's equity, juxtaposing the more significant share held by external investors.

McDonald's disclosed its most recent quarterly earnings on April 30th, reporting earnings per share of $2.70. This figure fell slightly shy of what analysts had anticipated. The earnings report is critical for both current shareholders and potential investors as it offers insight into the company's financial health and performance outlook.

From an investment standpoint, McDonald's continues to garner significant interest from the institutional realm. Recent data showcases that hedge funds and institutional investors hold a commanding 70.29% of the corporation's stock, indicating a robust level of confidence and vested interest from these financial entities in the ongoing success and prospects of the company.

The financial narrative surrounding McDonald's has recently been characterised by Truist Financial's downward price target revision, alongside a subtle underperformance in the quarterly earnings report.

Nevertheless, the company's extensive operational footprint and the sustained investors' stake, signal a persistent endorsement of McDonald's position as a leading entity in the fast-food industry.

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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY

The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.