McDonald’s (NYSE:MCD) PT Lowered to $290.00

McDonald’s (NYSE:MCD) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $300.00 to $290.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 7.28% from the stock’s current price.

MCD has been the subject of several other research reports. Stifel Nicolaus decreased their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Bank of America raised their price objective on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. KeyCorp decreased their target price on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a research note on Wednesday. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Finally, Truist Financial cut their price objective on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Nine equities 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $317.74.

McDonald’s Stock Performance

NYSE MCD traded down $2.96 during trading hours on Wednesday, reaching $270.32. The stock had a trading volume of 2,639,735 shares, compared to its average volume of 3,321,246. McDonald’s has a 52-week low of $245.73 and a 52-week high of $302.39. The stock has a fifty day moving average of $280.07 and a 200 day moving average of $282.21. The stock has a market cap of $194.90 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 3.02 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same period last year, the company earned $2.63 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that McDonald’s will post 12.25 EPS for the current year.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the transaction, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Several institutional investors and hedge funds have recently modified their holdings of MCD. Catalina Capital Group LLC purchased a new stake in McDonald’s during the 1st quarter worth approximately $578,000. Avidian Wealth Solutions LLC grew its holdings in McDonald’s by 75.0% during the 1st quarter. Avidian Wealth Solutions LLC now owns 6,434 shares of the fast-food giant’s stock worth $1,814,000 after acquiring an additional 2,758 shares in the last quarter. TFB Advisors LLC increased its position in shares of McDonald’s by 81.4% in the 1st quarter. TFB Advisors LLC now owns 1,582 shares of the fast-food giant’s stock valued at $434,000 after purchasing an additional 710 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of McDonald’s in the 1st quarter valued at $20,605,000. Finally, RIA Advisory Group LLC purchased a new stake in shares of McDonald’s during the 1st quarter worth $202,000. Hedge funds and other 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.