McDonald’s Corp. (MCD) Rating Increased to Strong-Buy at Vetr Inc.
McDonald’s Corp. (NYSE:MCD) was upgraded by investment analysts at Vetr from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm currently has a $128.31 target price on the fast-food giant’s stock. Vetr‘s target price indicates a potential upside of 14.14% from the stock’s current price.
Several other analysts have also recently commented on MCD. Nomura cut McDonald’s Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $129.00 in a report on Wednesday, June 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of McDonald’s Corp. in a report on Wednesday, June 22nd. Credit Suisse Group AG lowered their price target on McDonald’s Corp. from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, June 27th. Robert W. Baird restated a “neutral” rating and issued a $126.00 price target (down previously from $130.00) on shares of McDonald’s Corp. in a report on Wednesday, June 29th. Finally, Cleveland Research cut McDonald’s Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $126.27.
Shares of McDonald’s Corp. (NYSE:MCD) traded down 1.47% during mid-day trading on Monday, reaching $112.41. 5,655,748 shares of the company traded hands. The firm’s 50 day moving average price is $115.30 and its 200-day moving average price is $121.25. The company has a market capitalization of $95.93 billion, a P/E ratio of 21.46 and a beta of 0.61. McDonald’s Corp. has a 52-week low of $102.08 and a 52-week high of $131.96.
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McDonald’s Corp. (NYSE:MCD) last announced its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. McDonald’s Corp. had a net margin of 18.73% and a return on equity of 97.56%. The firm earned $6.27 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts predict that McDonald’s Corp. will post $5.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.94 dividend. This is an increase from McDonald’s Corp.’s previous quarterly dividend of $0.89. This represents a $3.76 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, November 29th. McDonald’s Corp.’s dividend payout ratio is currently 68.59%.
In related news, Chairman Andrew J. Mckenna sold 70,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $118.28, for a total value of $8,279,600.00. Following the completion of the sale, the chairman now directly 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 SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors raised its position in shares of McDonald’s Corp. by 85.4% in the fourth quarter. Capital World Investors now owns 30,881,418 shares of the fast-food giant’s stock valued at $3,648,331,000 after buying an additional 14,226,904 shares during the last quarter. 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 valued at $2,017,279,000 after buying an additional 655,395 shares during the last quarter. Norges Bank purchased a new position in shares of McDonald’s Corp. during the fourth quarter valued at $1,005,606,000. BlackRock Group LTD raised its position in shares of McDonald’s Corp. by 1.1% in the first quarter. BlackRock Group LTD now owns 8,204,193 shares of the fast-food giant’s stock valued at $1,031,103,000 after buying an additional 89,886 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of McDonald’s Corp. by 4.0% in the first quarter. Geode Capital Management LLC now owns 7,789,916 shares of the fast-food giant’s stock valued at $977,173,000 after buying an additional 302,511 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.
About McDonald’s Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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