McDonald’s Corp. (MCD) Given Outperform Rating at Credit Suisse Group AG
Credit Suisse Group AG reiterated their outperform rating on shares of McDonald’s Corp. (NYSE:MCD) in a research report report published on Tuesday morning. They currently have a $128.00 target price on the fast-food giant’s stock.
MCD has been the topic of several other reports. Canaccord Genuity reiterated a hold rating and set a $122.00 price objective on shares of McDonald’s Corp. in a research report on Sunday, October 23rd. Robert W. Baird reiterated an outperform rating on shares of McDonald’s Corp. in a research report on Thursday, September 8th. Vetr lowered McDonald’s Corp. from a buy rating to a hold rating and set a $126.64 price target on the stock. in a research report on Monday. Argus lowered McDonald’s Corp. from a buy rating to a hold rating and reduced their price target for the stock from $131.96 to $87.50 in a research report on Monday, August 15th. Finally, RBC Capital Markets set a $140.00 price target on McDonald’s Corp. and gave the stock a buy rating in a research report on Thursday, November 17th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $126.36.
McDonald’s Corp. (NYSE:MCD) opened at 120.68 on Tuesday. The firm has a 50-day moving average price of $114.91 and a 200-day moving average price of $118.44. The company has a market cap of $100.22 billion, a PE ratio of 22.67 and a beta of 0.63. McDonald’s Corp. has a 52-week low of $110.33 and a 52-week high of $131.96.
McDonald’s Corp. (NYSE:MCD) last announced its quarterly earnings data on Friday, October 21st. The fast-food giant reported $1.62 EPS for the quarter, beating the consensus estimate of $1.49 by $0.13. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.28 billion. McDonald’s Corp. had a return on equity of 197.51% and a net margin of 18.74%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 EPS. On average, analysts forecast that McDonald’s Corp. will post $5.69 EPS for the current year.
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The company 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. The ex-dividend date is Tuesday, November 29th. This represents a $3.76 annualized dividend and a yield of 3.12%. This is a boost from McDonald’s Corp.’s previous quarterly dividend of $0.89. McDonald’s Corp.’s dividend payout ratio is 67.30%.
In related news, Chairman Andrew J. Mckenna sold 30,000 shares of the stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $113.48, for a total value of $3,404,400.00. Following the transaction, the chairman now owns 72,514 shares of the company’s stock, valued at $8,228,888.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP James R. Sappington sold 8,298 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $118.08, for a total value of $979,827.84. Following the completion of the transaction, the vice president now directly owns 14,750 shares in the company, valued at approximately $1,741,680. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MCD. Robeco Institutional Asset Management B.V. boosted its position in shares of McDonald’s Corp. by 33.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,074,266 shares of the fast-food giant’s stock valued at $129,275,000 after buying an additional 268,464 shares during the period. Kentucky Retirement Systems bought a new stake in McDonald’s Corp. during the second quarter worth $8,984,000. UBS Asset Management Americas Inc. raised its stake in McDonald’s Corp. by 15.1% in the second quarter. UBS Asset Management Americas Inc. now owns 3,952,572 shares of the fast-food giant’s stock worth $475,653,000 after buying an additional 519,237 shares in the last quarter. Pennsylvania Trust Co raised its stake in McDonald’s Corp. by 3.3% in the second quarter. Pennsylvania Trust Co now owns 108,250 shares of the fast-food giant’s stock worth $13,027,000 after buying an additional 3,477 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC raised its stake in McDonald’s Corp. by 16.1% in the third quarter. Franklin Street Advisors Inc. NC now owns 47,634 shares of the fast-food giant’s stock worth $5,495,000 after buying an additional 6,606 shares in the last quarter. 66.58% 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.
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