Vetr Inc. Upgrades McDonald’s Corp. (MCD) to “Strong-Buy”
McDonald’s Corp. (NYSE:MCD) was upgraded by 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 price target would indicate a potential upside of 14.14% from the stock’s previous close.
MCD has been the topic of a number of other research reports. Deutsche Bank AG cut their price target on McDonald’s Corp. from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Goldman Sachs Group Inc. set a $112.00 price target on McDonald’s Corp. and gave the company a “neutral” rating in a report on Wednesday, July 27th. RBC Capital Markets reissued an “outperform” rating and set a $140.00 target price on shares of McDonald’s Corp. in a report on Thursday, July 28th. Robert W. Baird reissued an “outperform” rating on shares of McDonald’s Corp. in a report on Thursday, September 8th. Finally, Nomura set a $129.00 target price on McDonald’s Corp. and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $126.27.
Shares of McDonald’s Corp. (NYSE:MCD) traded down 1.47% during midday trading on Monday, reaching $112.41. The company’s stock had a trading volume of 5,655,748 shares. The stock has a market capitalization of $95.93 billion, a PE ratio of 21.46 and a beta of 0.61. The stock’s 50 day moving average is $115.30 and its 200 day moving average is $121.25. McDonald’s Corp. has a 12 month low of $102.08 and a 12 month high of $131.96.
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McDonald’s Corp. (NYSE:MCD) last released its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.28 billion. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, analysts forecast that McDonald’s Corp. will post $5.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, November 29th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from McDonald’s Corp.’s previous quarterly dividend of $0.89. McDonald’s Corp.’s dividend payout ratio is currently 68.59%.
In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.28, for a total transaction 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 $12,873,713.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.28% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MCD. Telemus Capital LLC bought a new position in shares of McDonald’s Corp. during the first quarter worth approximately $745,000. Commonwealth Equity Services Inc raised its position in shares of McDonald’s Corp. by 6.4% in the first quarter. Commonwealth Equity Services Inc now owns 410,521 shares of the fast-food giant’s stock worth $51,594,000 after buying an additional 24,757 shares in the last quarter. Aperio Group LLC raised its position in shares of McDonald’s Corp. by 4.0% in the first quarter. Aperio Group LLC now owns 466,536 shares of the fast-food giant’s stock worth $58,634,000 after buying an additional 17,751 shares in the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in shares of McDonald’s Corp. during the first quarter worth approximately $2,538,000. Finally, Virginia Retirement System bought a new position in shares of McDonald’s Corp. during the first quarter worth approximately $53,475,000. 69.13% of the stock is owned by institutional investors and hedge funds.
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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