McDonald’s (NYSE:MCD) PT Raised to $290.00 at JPMorgan Chase & Co.

by · The Markets Daily

McDonald’s (NYSE:MCD – Free Report) had its price objective boosted by JPMorgan Chase & Co. from $270.00 to $290.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the fast-food giant’s stock.

A number of other analysts have also commented on MCD. Evercore ISI lifted their target price on McDonald’s from $300.00 to $320.00 and gave the stock an outperform rating in a report on Monday, August 19th. Wedbush reiterated an outperform rating and issued a $295.00 price target on shares of McDonald’s in a research note on Monday, July 29th. Tigress Financial increased their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a buy rating in a research report on Tuesday, September 3rd. Morgan Stanley cut their target price on shares of McDonald’s from $312.00 to $300.00 and set an overweight rating for the company in a research report on Thursday, July 11th. Finally, Barclays lowered their price target on McDonald’s from $320.00 to $300.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $306.11.

View Our Latest Report on MCD

McDonald’s Stock Up 0.6 %

Shares of NYSE MCD opened at $293.85 on Monday. The company has a market cap of $211.77 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 3.88 and a beta of 0.72. The firm’s fifty day moving average is $276.44 and its 200 day moving average is $270.84. McDonald’s has a 52 week low of $243.53 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $3.17 EPS. Equities research analysts anticipate that McDonald’s will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $1.67 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.27%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,193 shares of company stock worth $1,403,593. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of McDonald’s

A number of hedge funds have recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter valued at $28,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s during the fourth quarter valued at $38,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the second quarter valued at $38,000. Accent Capital Management LLC acquired a new position in shares of McDonald’s during the fourth quarter valued at $44,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of McDonald’s during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Company Profile

(Get Free Report)

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.

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