JPMorgan Chase & Co. Increases McDonald’s (NYSE:MCD) Price Target to $300.00

McDonald’s (NYSE:MCD) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $280.00 to $300.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 2.43% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Bank of America increased their price target on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their price target on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Citigroup increased their price target on McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Piper Sandler lowered their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Stock Performance

NYSE:MCD opened at $307.47 on Tuesday. The stock’s fifty day moving average price is $291.33 and its two-hundred day moving average price is $291.97. McDonald’s has a 52-week low of $243.53 and a 52-week high of $317.90. The company has a market cap of $220.34 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 4.08 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. On average, equities analysts predict that McDonald’s will post 11.73 EPS for the current fiscal year.

Insider Activity

In other news, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the transaction, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock worth $2,150,857 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC lifted its position in shares of McDonald’s by 1.7% in the third quarter. Exchange Traded Concepts LLC now owns 2,513 shares of the fast-food giant’s stock valued at $765,000 after buying an additional 42 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of McDonald’s in the third quarter valued at approximately $1,472,000. VitalStone Financial LLC lifted its position in shares of McDonald’s by 148.8% in the third quarter. VitalStone Financial LLC now owns 311 shares of the fast-food giant’s stock valued at $95,000 after buying an additional 186 shares during the last quarter. CX Institutional lifted its position in shares of McDonald’s by 65.8% in the third quarter. CX Institutional now owns 27,040 shares of the fast-food giant’s stock valued at $8,234,000 after buying an additional 10,733 shares during the last quarter. Finally, Creative Planning lifted its position in shares of McDonald’s by 1.4% in the third quarter. Creative Planning now owns 329,417 shares of the fast-food giant’s stock valued at $100,311,000 after buying an additional 4,480 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.