McDonald’s Corporation (NYSE:MCD) PT Raised to $175.00
McDonald’s Corporation (NYSE:MCD) had its price target hoisted by Deutsche Bank AG from $155.00 to $175.00 in a report released on Monday, July 10th. The brokerage currently has a buy rating on the fast-food giant’s stock.
Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada set a $170.00 target price on McDonald’s Corporation and gave the company a buy rating in a research report on Thursday, June 22nd. Vetr raised McDonald’s Corporation from a sell rating to a buy rating and set a $145.38 price objective on the stock in a research report on Tuesday, April 18th. Zacks Investment Research raised McDonald’s Corporation from a hold rating to a buy rating and set a $172.00 price objective on the stock in a research report on Tuesday, June 27th. Credit Suisse Group reissued an outperform rating and issued a $137.00 price objective on shares of McDonald’s Corporation in a research report on Friday, March 17th. Finally, Barclays PLC boosted their price objective on McDonald’s Corporation from $139.00 to $155.00 and gave the stock an overweight rating in a research report on Wednesday, April 26th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. McDonald’s Corporation presently has a consensus rating of Buy and a consensus price target of $162.16.
McDonald’s Corporation (NYSE MCD) traded down 0.58% during midday trading on Monday, hitting $153.82. The stock had a trading volume of 4,435,402 shares. McDonald’s Corporation has a 1-year low of $110.33 and a 1-year high of $159.98. The stock’s 50-day moving average is $154.15 and its 200-day moving average is $139.07. The stock has a market capitalization of $125.37 billion, a PE ratio of 25.18 and a beta of 0.70.
McDonald’s Corporation (NYSE:MCD) last announced its earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The company had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.96 billion. McDonald’s Corporation had a negative return on equity of 266.50% and a net margin of 21.00%. McDonald’s Corporation’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 earnings per share. On average, equities research analysts anticipate that McDonald’s Corporation will post $6.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, August 30th. McDonald’s Corporation’s dividend payout ratio is presently 61.54%.
In related news, EVP Jerome N. Krulewitch sold 11,755 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.38, for a total transaction of $1,861,756.90. Following the completion of the sale, the executive vice president now directly owns 11,755 shares in the company, valued at approximately $1,861,756.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin M. Ozan sold 25,322 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $4,013,537.00. Following the sale, the chief financial officer now owns 24,039 shares of the company’s stock, valued at $3,810,181.50. The disclosure for this sale can be found here. Insiders have sold a total of 54,363 shares of company stock valued at $8,615,125 over the last 90 days. 0.24% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of McDonald’s Corporation during the fourth quarter worth about $960,307,000. Jennison Associates LLC increased its position in shares of McDonald’s Corporation by 681.3% in the second quarter. Jennison Associates LLC now owns 6,109,830 shares of the fast-food giant’s stock worth $935,782,000 after buying an additional 5,327,778 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of McDonald’s Corporation by 1,265.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,437,039 shares of the fast-food giant’s stock worth $175,049,000 after buying an additional 1,331,792 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of McDonald’s Corporation during the fourth quarter worth about $112,315,000. Finally, Harbour Capital Advisors LLC increased its position in McDonald’s Corporation by 12,624.8% in the second quarter. Harbour Capital Advisors LLC now owns 767,178 shares of the fast-food giant’s stock valued at $5,009,000 after buying an additional 761,149 shares during the last quarter. Institutional investors own 67.55% of the company’s stock.
About McDonald’s Corporation
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of 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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