McDonald’s (NYSE:MCD) Price Target Increased to $290.00 by Analysts at JPMorgan Chase & Co.

McDonald’s (NYSE:MCD) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $270.00 to $290.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the fast-food giant’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 2.22% from the stock’s previous close.

Several other equities research analysts have also commented on MCD. Citigroup boosted their price objective on shares of McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a research report on Friday. BMO Capital Markets lowered their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Stifel Nicolaus decreased their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Loop Capital reissued a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research note on Tuesday, September 10th. Finally, The Goldman Sachs Group assumed coverage on shares of McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $306.11.

McDonald’s Stock Up 0.0 %

NYSE MCD traded up $0.05 during trading hours on Monday, hitting $296.58. 1,003,337 shares of the stock were exchanged, compared to its average volume of 3,465,745. The stock has a 50-day moving average of $272.89 and a 200 day moving average of $270.47. The company has a market cap of $213.74 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72. McDonald’s has a 12-month low of $243.53 and a 12-month high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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). The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.17 EPS. On average, equities research analysts expect that McDonald’s will post 11.67 earnings per share for the current year.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,291 shares of company stock valued at $1,689,073. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

A number of institutional investors have recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $4,286,000. Hantz Financial Services Inc. bought a new stake in shares of McDonald’s in the second quarter valued at approximately $6,612,000. California State Teachers Retirement System raised its stake in McDonald’s by 1.4% during the 4th quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock valued at $350,157,000 after purchasing an additional 15,863 shares during the last quarter. Keystone Financial Group increased its holdings in shares of McDonald’s by 5.9% during the 4th quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock worth $2,667,000 after purchasing an additional 499 shares during the period. Finally, Brevan Howard Capital Management LP lifted its stake in shares of McDonald’s by 411.4% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock valued at $2,223,000 after buying an additional 6,031 shares during the period. Institutional investors own 70.29% of the company’s stock.

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.