JPMorgan Chase & Co. Lowers McDonald’s (NYSE:MCD) Price Target to $270.00

McDonald’s (NYSE:MCD) had its target price decreased by JPMorgan Chase & Co. from $290.00 to $270.00 in a report published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the fast-food giant’s stock.

A number of other research analysts have also recently issued reports on MCD. Evercore ISI cut their target price on shares of McDonald’s from $330.00 to $300.00 and set an outperform rating for the company in a research note on Tuesday, July 16th. UBS Group cut their target price on shares of McDonald’s from $340.00 to $335.00 and set a buy rating for the company in a research note on Friday, April 5th. Erste Group Bank restated a hold rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Morgan Stanley dropped their price objective on shares of McDonald’s from $312.00 to $300.00 and set an overweight rating for the company in a research report on Thursday, July 11th. Finally, Bank of America dropped their price objective on shares of McDonald’s from $302.00 to $288.00 and set a neutral rating for the company in a research report on Tuesday, May 28th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $303.00.

McDonald’s Stock Up 3.0 %

Shares of MCD opened at $276.70 on Tuesday. The stock has a market cap of $199.41 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 3.28 and a beta of 0.71. McDonald’s has a 12 month low of $243.53 and a 12 month high of $302.39. The company has a 50-day moving average price of $255.91 and a two-hundred day moving average price of $272.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the business earned $3.17 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts expect that McDonald’s will post 11.78 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Activity

In related news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The disclosure for this sale can be found here. Insiders sold 5,594 shares of company stock valued at $1,454,507 in the last quarter. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the 1st quarter worth about $28,000. Signature Resources Capital Management LLC bought a new stake in McDonald’s during the 4th quarter worth about $31,000. Clear Investment Research LLC bought a new stake in McDonald’s during the 4th quarter worth about $38,000. Kings Path Partners LLC bought a new stake in McDonald’s during the 2nd quarter worth about $38,000. Finally, Keener Financial Planning LLC bought a new stake in McDonald’s during the 4th quarter worth about $39,000. 70.29% of the stock is 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.