McDonald’s (NYSE:MCD) Price Target Raised to $300.00 at JPMorgan Chase & Co.

McDonald’s (NYSE:MCD) had its target price upped by research analysts at JPMorgan Chase & Co. from $280.00 to $300.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the fast-food giant’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 2.67% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Wedbush upped their target price on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday. Robert W. Baird upped their price objective on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday. TD Securities reissued a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Monday. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Bank of America lifted their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $323.00.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $308.22 on Tuesday. The business has a fifty day simple moving average of $290.70 and a two-hundred day simple moving average of $291.16. McDonald’s has a 1 year low of $243.53 and a 1 year high of $317.90. The company has a market capitalization of $220.88 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 4.08 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. As a group, equities analysts anticipate that McDonald’s will post 11.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the sale, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,406 shares of company stock valued at $2,150,857. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McDonald’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal London Asset Management Ltd. increased its holdings in McDonald’s by 0.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 318,805 shares of the fast-food giant’s stock valued at $92,418,000 after purchasing an additional 1,316 shares during the period. Next Capital Management LLC grew its position in shares of McDonald’s by 4.1% in the 4th quarter. Next Capital Management LLC now owns 4,472 shares of the fast-food giant’s stock valued at $1,296,000 after buying an additional 176 shares during the last quarter. Generali Investments Management Co LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $4,939,000. GM Advisory Group LLC raised its position in shares of McDonald’s by 14.7% during the fourth quarter. GM Advisory Group LLC now owns 2,386 shares of the fast-food giant’s stock worth $692,000 after acquiring an additional 305 shares during the last quarter. Finally, Stokes Family Office LLC lifted its stake in shares of McDonald’s by 41.6% in the fourth quarter. Stokes Family Office LLC now owns 8,396 shares of the fast-food giant’s stock worth $2,434,000 after acquiring an additional 2,465 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.