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

McDonald’s (NYSE:MCD) had its target price decreased by JPMorgan Chase & Co. from $300.00 to $290.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the fast-food giant’s stock.

MCD has been the subject of several other reports. UBS Group reduced their price objective on McDonald’s from $340.00 to $335.00 and set a buy rating for the company in a research note on Friday, April 5th. StockNews.com cut McDonald’s from a buy rating to a hold rating in a research note on Friday, February 9th. Barclays reduced their price objective on shares of McDonald’s from $343.00 to $340.00 and set an overweight rating for the company in a research note on Tuesday, February 6th. Argus reissued a hold rating on shares of McDonald’s in a research report on Monday, March 25th. Finally, BMO Capital Markets reduced their price target on shares of McDonald’s from $335.00 to $330.00 and set an outperform rating for the company in a research report on Wednesday. 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 MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $317.74.

McDonald’s Trading Down 1.1 %

McDonald’s stock opened at $270.32 on Wednesday. McDonald’s has a 52 week low of $245.73 and a 52 week high of $302.39. The company’s 50-day moving average price is $280.07 and its two-hundred day moving average price is $282.21. The stock has a market cap of $194.90 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.95 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its earnings results 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). The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.63 earnings per share. Research analysts expect that McDonald’s will post 12.18 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $1.67 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a yield of 2.47%. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Buying and Selling

In related news, 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 value of $303,750.72. Following the transaction, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the transaction, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s during the first quarter valued at approximately $28,000. Signature Resources Capital Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter worth $31,000. Blue Bell Private Wealth Management LLC grew 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 during the last quarter. Spartan Planning & Wealth Management acquired a new stake in shares of McDonald’s in the third quarter worth $33,000. Finally, Clear Investment Research LLC acquired a new stake in shares of McDonald’s in the fourth quarter worth $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.