McDonald’s (NYSE:MCD) Price Target Cut to $290.00

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

Other equities analysts have also recently issued research reports about the stock. Evercore ISI restated an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. Argus restated a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. Truist Financial dropped their target price on McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Finally, BTIG Research cut McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $317.74.

McDonald’s Price Performance

Shares of McDonald’s stock traded down $2.96 during midday trading on Wednesday, hitting $270.32. The company had a trading volume of 2,639,735 shares, compared to its average volume of 3,321,246. The stock has a market cap of $194.90 billion, a PE ratio of 22.95, a P/E/G ratio of 3.02 and a beta of 0.71. McDonald’s has a 1-year low of $245.73 and a 1-year high of $302.39. The business’s 50 day simple moving average is $280.07 and its two-hundred day simple moving average is $282.21.

McDonald’s (NYSE:MCD) last issued its quarterly 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 firm 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 180.54%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.63 earnings per share. On average, sell-side analysts expect that McDonald’s will post 12.25 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of McDonald’s by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after buying an additional 599,745 shares during the last quarter. Northern Trust Corp lifted its stake in McDonald’s by 1.7% in the third quarter. Northern Trust Corp now owns 9,200,473 shares of the fast-food giant’s stock valued at $2,423,773,000 after acquiring an additional 151,161 shares during the last quarter. Norges Bank bought a new position in shares of McDonald’s in the 4th quarter valued at about $2,684,899,000. Price T Rowe Associates Inc. MD increased its stake in shares of McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC lifted its stake in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the last quarter. 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.