McDonald's (NYSE:MCD) Price Target Raised to $310.00

Key Points

• JPMorgan Chase & Co. has raised its price target for McDonald’s from $305.00 to $310.00, indicating a potential upside of 0.68% from the current stock price.
• Despite the target increase, analysts are divided, with two firms issuing sell ratings, while others like TD Cowen and Citigroup set higher price targets of $315.00 and $365.00 respectively.
• McDonald's reported $3.19 EPS for the last quarter, surpassing expectations, with revenue rising 5.4% year-over-year to $6.84 billion.

McDonald's (NYSE:MCD - Get Free Report) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $305.00 to $310.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the fast-food giant's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 0.68% from the stock's current price.

MCD has been the topic of several other reports. Redburn Atlantic reaffirmed a "sell" rating and set a $260.00 price target (down from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. TD Cowen boosted their price target on shares of McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a report on Wednesday. Citigroup lifted their target price on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Erste Group Bank lowered McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Barclays increased their target price on McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $326.00.

McDonald's Price Performance

Shares of NYSE MCD traded up $0.24 during midday trading on Thursday, reaching $307.90. 2,797,678 shares of the company traded hands, compared to its average volume of 3,620,364. The company has a market cap of $220.16 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 3.13 and a beta of 0.52. The stock has a 50-day moving average price of $298.81 and a 200 day moving average price of $303.99. McDonald's has a 52 week low of $265.33 and a 52 week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the firm posted $2.97 EPS. The company's revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that McDonald's will post 12.25 EPS for the current year.

Insider Activity

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,280 shares of company stock worth $2,215,178 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McDonald's

Hedge funds and other institutional investors have recently bought and sold shares of the business. WealthPlan Investment Management LLC grew its stake in shares of McDonald's by 0.9% during the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock valued at $1,134,000 after buying an additional 32 shares during the period. Granite Bay Wealth Management LLC grew its stake in shares of McDonald's by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after purchasing an additional 33 shares in the last quarter. CVA Family Office LLC grew its stake in shares of McDonald's by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after purchasing an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC grew its position in McDonald's by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after purchasing an additional 33 shares in the last quarter. Finally, Security Financial Services INC. grew its stake in shares of McDonald's by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Company Profile

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, Spain, and the U.K.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.