JPMorgan Chase & Co. Lowers McDonald’s (NYSE:MCD) Price Target to $290.00

McDonald’s (NYSE:MCD) had its price target cut by JPMorgan Chase & Co. from $300.00 to $290.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the fast-food giant’s stock.

Other equities analysts have also recently issued reports about the stock. Stephens restated an overweight rating and set a $320.00 price objective on shares of McDonald’s in a research report on Monday, February 5th. Argus restated a hold rating on shares of McDonald’s in a research report on Monday, March 25th. Robert W. Baird reduced their price objective on shares of McDonald’s from $305.00 to $300.00 and set an outperform rating for the company in a research report on Wednesday. UBS Group reduced their price objective on shares of McDonald’s from $340.00 to $335.00 and set a buy rating for the company in a research report on Friday, April 5th. Finally, KeyCorp dropped their target price on shares of McDonald’s from $315.00 to $310.00 and set an overweight rating for the company in a report on Wednesday. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $317.74.

McDonald’s Price Performance

MCD stock opened at $270.32 on Wednesday. The firm’s fifty day simple moving average is $279.53 and its 200-day simple moving average is $282.35. The company has a market capitalization of $194.90 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 2.91 and a beta of 0.71. McDonald’s has a 12 month low of $245.73 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the firm earned $2.63 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that McDonald’s will post 12.18 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $1.67 dividend. The ex-dividend date was Thursday, February 29th. This represents a $6.68 annualized dividend and a yield of 2.47%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the transaction, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the first quarter valued at about $28,000. Signature Resources Capital Management LLC acquired a new stake in McDonald’s in the fourth quarter valued at about $31,000. Blue Bell Private Wealth Management LLC lifted its position in shares of McDonald’s by 51.9% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after acquiring an additional 42 shares during the period. Spartan Planning & Wealth Management acquired a new stake in shares of McDonald’s during the 3rd quarter valued at approximately $33,000. Finally, Clear Investment Research LLC acquired a new stake in shares of McDonald’s during the 4th quarter valued at approximately $38,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.