McDonald’s (NYSE:MCD) Given New $290.00 Price Target at JPMorgan Chase & Co.

McDonald’s (NYSE:MCD) had its price objective lowered by JPMorgan Chase & Co. from $300.00 to $290.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the fast-food giant’s stock.

MCD has been the topic of a number of other reports. StockNews.com lowered shares of McDonald’s from a buy rating to a hold rating in a report on Friday, February 9th. Bank of America upped their price objective on McDonald’s from $291.00 to $341.00 and gave the stock a neutral rating in a research report on Monday, January 29th. Argus reissued a hold rating on shares of McDonald’s in a research report on Monday, March 25th. KeyCorp decreased their price objective on McDonald’s from $315.00 to $310.00 and set an overweight rating for the company in a report on Wednesday. Finally, Morgan Stanley cut their target price on shares of McDonald’s from $327.00 to $320.00 and set an overweight rating on the stock in a report on Friday, April 12th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $317.37.

McDonald’s Stock Up 0.5 %

Shares of MCD opened at $274.35 on Wednesday. McDonald’s has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The company has a market cap of $197.81 billion, a P/E ratio of 23.29, a PEG ratio of 2.98 and a beta of 0.71. The firm’s 50 day moving average price is $280.53 and its 200 day moving average price is $282.27.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the business posted $2.63 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Research analysts forecast that McDonald’s will post 12.34 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 annualized dividend and a dividend yield of 2.43%. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Activity at McDonald’s

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

A number of institutional investors and hedge funds have recently bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s in the 1st quarter valued at $28,000. Signature Resources Capital Management LLC acquired a new stake in shares of McDonald’s during the fourth quarter valued at about $31,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of McDonald’s by 51.9% in the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after acquiring an additional 42 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in McDonald’s in the third quarter valued at about $33,000. Finally, Clear Investment Research LLC purchased a new stake in McDonald’s during the 4th quarter worth approximately $38,000. 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.