McDonald’s Corp. (MCD) Coverage Initiated at Telsey Advisory Group
Analysts at Telsey Advisory Group assumed coverage on shares of McDonald’s Corp. (NYSE:MCD) in a research report issued to clients and investors on Monday. The brokerage set an “outperform” rating and a $130.00 price target on the fast-food giant’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 14.59% from the company’s previous close.
Several other research firms have also weighed in on MCD. RBC Capital Markets restated a “buy” rating and set a $140.00 target price on shares of McDonald’s Corp. in a report on Friday, July 22nd. Jefferies Group set a $115.00 target price on McDonald’s Corp. and gave the company a “neutral” rating in a report on Tuesday, July 26th. Wells Fargo & Co. reiterated a “market perform” rating on shares of McDonald’s Corp. in a research note on Wednesday, July 20th. Nomura set a $129.00 price objective on McDonald’s Corp. and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Finally, Zacks Investment Research upgraded McDonald’s Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company. McDonald’s Corp. presently has an average rating of “Hold” and an average target price of $126.01.
Shares of McDonald’s Corp. (NYSE:MCD) traded up 1.30% on Monday, reaching $114.93. The company had a trading volume of 2,601,784 shares. The firm has a market capitalization of $98.08 billion, a PE ratio of 21.95 and a beta of 0.61. The company has a 50-day moving average price of $115.46 and a 200-day moving average price of $121.70. McDonald’s Corp. has a 52-week low of $101.60 and a 52-week high of $131.96.
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McDonald’s Corp. (NYSE:MCD) last posted its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.06. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts forecast that McDonald’s Corp. will post $5.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.94 dividend. This is a positive change from McDonald’s Corp.’s previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, November 29th. This represents a $3.76 annualized dividend and a dividend yield of 3.31%. McDonald’s Corp.’s payout ratio is 68.59%.
In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $118.28, for a total value of $8,279,600.00. Following the completion of the transaction, the chairman now owns 108,841 shares of the company’s stock, valued at approximately $12,873,713.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.28% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Janus Capital Management LLC raised its position in shares of McDonald’s Corp. by 49.3% in the second quarter. Janus Capital Management LLC now owns 4,192,114 shares of the fast-food giant’s stock worth $504,479,000 after buying an additional 1,383,391 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of McDonald’s Corp. during the second quarter worth $158,428,000. Societe Generale bought a new position in shares of McDonald’s Corp. during the second quarter worth $151,614,000. BlackRock Fund Advisors raised its position in shares of McDonald’s Corp. by 4.1% in the second quarter. BlackRock Fund Advisors now owns 16,763,162 shares of the fast-food giant’s stock worth $2,017,279,000 after buying an additional 655,395 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of McDonald’s Corp. during the first quarter worth $76,602,000. 69.10% of the stock is owned by institutional investors.
McDonald’s Corp. Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate.
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