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

McDonald’s (NYSE:MCD) had its price target lowered by analysts at JPMorgan Chase & Co. from $300.00 to $290.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 16.98% from the company’s current price.

Several other equities analysts have also weighed in on MCD. TD Cowen restated a “buy” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Thursday, June 13th. BMO Capital Markets lowered their price objective on McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Bank of America lowered their price objective on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Morgan Stanley lowered their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, Argus restated a “hold” rating on shares of McDonald’s in a report on Monday, March 25th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $312.82.

McDonald’s Price Performance

NYSE MCD traded up $2.08 during midday trading on Wednesday, hitting $247.90. 1,724,267 shares of the company traded hands, compared to its average volume of 3,418,016. The company has a market cap of $178.66 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.71. The company’s 50-day simple moving average is $259.67 and its 200-day simple moving average is $277.05. McDonald’s has a 52 week low of $243.53 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last announced 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). The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $2.63 EPS. On average, research analysts predict that McDonald’s will post 12.19 earnings per share for the current year.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,593 shares of company stock worth $1,472,518. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Several hedge funds have recently made changes to their positions in the business. Bennett Selby Investments LP boosted its stake in shares of McDonald’s by 2.0% during the second quarter. Bennett Selby Investments LP now owns 5,208 shares of the fast-food giant’s stock worth $1,327,000 after buying an additional 100 shares during the period. CWM LLC lifted its position in McDonald’s by 7.5% in the second quarter. CWM LLC now owns 74,266 shares of the fast-food giant’s stock valued at $18,926,000 after purchasing an additional 5,173 shares during the period. Fiduciary Alliance LLC lifted its position in McDonald’s by 43.2% in the second quarter. Fiduciary Alliance LLC now owns 3,571 shares of the fast-food giant’s stock valued at $885,000 after purchasing an additional 1,077 shares during the period. CVA Family Office LLC lifted its position in McDonald’s by 4.4% in the second quarter. CVA Family Office LLC now owns 1,619 shares of the fast-food giant’s stock valued at $413,000 after purchasing an additional 68 shares during the period. Finally, Sunflower Bank N.A. lifted its position in McDonald’s by 6.3% in the second quarter. Sunflower Bank N.A. now owns 1,073 shares of the fast-food giant’s stock valued at $273,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

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.