McDonald’s (NYSE:MCD) PT Raised to $290.00 at JPMorgan Chase & Co.

McDonald’s (NYSE:MCD) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $270.00 to $290.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 1.27% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price on the stock. KeyCorp lowered their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. BMO Capital Markets decreased their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Bank of America lowered their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, Tigress Financial upped their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.11.

McDonald’s Price Performance

MCD stock opened at $293.73 on Monday. McDonald’s has a 12 month low of $243.53 and a 12 month high of $302.39. The firm’s 50-day moving average is $274.83 and its 200 day moving average is $270.53. The company has a market capitalization of $211.69 billion, a PE ratio of 24.93, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its 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 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the business posted $3.17 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Sell-side analysts forecast that McDonald’s will post 11.67 EPS for the current fiscal year.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock valued at $1,689,073 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McDonald’s

Several large investors have recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s in the 1st quarter valued at $28,000. Clear Investment Research LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $38,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the second quarter worth about $38,000. Accent Capital Management LLC acquired a new position in McDonald’s during the fourth quarter worth about $44,000. Finally, Transcendent Capital Group LLC purchased a new stake in McDonald’s during the 4th quarter valued at about $45,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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.