JPMorgan Chase & Co. Lowers McDonald's (NYSE:MCD) Price Target to $290.00

McDonald's (NYSE:MCD - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $300.00 to $290.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the fast-food giant's stock.

Other equities research analysts also recently issued research reports about the company. Barclays dropped their price objective on McDonald's from $343.00 to $340.00 and set an overweight rating on the stock in a research report on Tuesday, February 6th. Erste Group Bank reaffirmed a hold rating on shares of McDonald's in a research report on Wednesday, April 3rd. Truist Financial dropped their price objective on McDonald's from $345.00 to $340.00 and set a buy rating on the stock in a research report on Tuesday, February 6th. Oppenheimer reaffirmed a market perform rating on shares of McDonald's in a research report on Friday, January 5th. Finally, UBS Group dropped their price objective on McDonald's from $340.00 to $335.00 and set a buy rating on the stock in a research report on Friday, April 5th. 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.com, McDonald's presently has an average rating of Moderate Buy and an average target price of $317.37.

McDonald's Trading Up 0.5 %

Shares of MCD traded up $1.31 during midday trading on Wednesday, reaching $274.35. 4,843,250 shares of the stock were exchanged, compared to its average volume of 3,332,155. 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 is $280.53 and its two-hundred day moving average is $282.27. The company has a market capitalization of $197.81 billion, a P/E ratio of 23.71, a PEG ratio of 2.99 and a beta of 0.71.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.71 by ($0.01). McDonald's had a negative return on equity of 171.96% and a net margin of 33.22%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the previous year, the company posted $2.63 EPS. McDonald's's quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts expect that McDonald's will post 12.34 EPS for the current year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Thursday, February 29th. McDonald's's payout ratio is 57.74%.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, 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 can be accessed through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, 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 can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald's stock in a transaction that occurred on Friday, March 22nd. The shares were 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. Company insiders own 0.23% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald's in the first quarter valued at approximately $28,000. Signature Resources Capital Management LLC purchased a new stake in shares of McDonald's in the fourth quarter valued at approximately $31,000. Blue Bell Private Wealth Management LLC increased its position 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 valued at $32,000 after buying an additional 42 shares in the last quarter. Spartan Planning & Wealth Management purchased a new stake in shares of McDonald's in the third quarter valued at approximately $33,000. Finally, Clear Investment Research LLC purchased a new stake in shares of McDonald's in the fourth quarter valued at approximately $38,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald's Company Profile

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.