McDonald’s (NYSE:MCD) Price Target Cut to $290.00

McDonald’s (NYSE:MCD) had its price objective cut by analysts at JPMorgan Chase & Co. from $300.00 to $290.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.71% from the company’s previous close.

Several other research analysts also recently commented on the company. Argus reissued a “hold” rating on shares of McDonald’s in a report on Monday, March 25th. KeyCorp reduced their target price on McDonald’s from $315.00 to $310.00 and set an “overweight” rating on the stock in a report on Wednesday. BTIG Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Erste Group Bank reissued a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Finally, Morgan Stanley reduced their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $317.37.

McDonald’s Stock Performance

Shares of MCD stock traded down $1.27 during trading hours on Wednesday, hitting $271.77. The company had a trading volume of 1,259,023 shares, compared to its average volume of 3,288,149. McDonald’s has a 12 month low of $245.73 and a 12 month high of $302.39. The firm has a market capitalization of $195.95 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 2.99 and a beta of 0.71. The firm’s fifty day moving average is $280.92 and its 200 day moving average is $282.33.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.63 earnings per share. On average, sell-side analysts expect that McDonald’s will post 12.34 EPS for the current fiscal year.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

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

About McDonald’s

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.