Telsey Advisory Group Reaffirms “Outperform” Rating for Mcdonald’s (NYSE:MCD)
Telsey Advisory Group reaffirmed their outperform rating on shares of Mcdonald’s (NYSE:MCD) in a research note issued to investors on Monday, Briefing.com Automated Import reports. The firm currently has a $230.00 price target on the fast-food giant’s stock, up from their previous price target of $210.00.
Several other equities research analysts have also commented on the stock. KeyCorp reiterated a hold rating on shares of Clearwater Paper in a research note on Wednesday, May 1st. Longbow Research lowered shares of Mcdonald’s from a buy rating to a neutral rating and decreased their price objective for the company from $200.00 to $197.00 in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Evercore ISI began coverage on shares of Mondelez International in a research note on Tuesday, June 11th. They issued an outperform rating and a $62.00 price objective for the company. Bank of America set a $80.00 price objective on shares of Canopy Growth and gave the company a buy rating in a research note on Friday, June 7th. Finally, Robert W. Baird increased their price objective on shares of Mcdonald’s from $196.00 to $205.00 in a research note on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $210.31.
MCD opened at $213.71 on Monday. Mcdonald’s has a fifty-two week low of $153.13 and a fifty-two week high of $214.90. The firm has a market cap of $163.19 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 3.07 and a beta of 0.51. The stock has a 50-day simple moving average of $206.23.
In related news, insider Christopher J. Kempczinski sold 38,729 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $195.21, for a total value of $7,560,288.09. Following the completion of the transaction, the insider now directly owns 11,658 shares of the company’s stock, valued at approximately $2,275,758.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ian Frederick Borden sold 4,149 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $199.22, for a total transaction of $826,563.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,449 shares of company stock valued at $20,458,931. 0.25% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCD. Portfolio Solutions LLC bought a new stake in shares of Mcdonald’s during the 4th quarter worth about $178,000. Waratah Capital Advisors Ltd. boosted its stake in shares of Mcdonald’s by 209.9% during the 4th quarter. Waratah Capital Advisors Ltd. now owns 41,710 shares of the fast-food giant’s stock worth $7,406,000 after acquiring an additional 28,250 shares in the last quarter. Marathon Capital Management boosted its stake in shares of Mcdonald’s by 36.6% during the 4th quarter. Marathon Capital Management now owns 1,717 shares of the fast-food giant’s stock worth $304,000 after acquiring an additional 460 shares in the last quarter. Corient Capital Partners LLC boosted its stake in shares of Mcdonald’s by 8.2% during the 4th quarter. Corient Capital Partners LLC now owns 38,641 shares of the fast-food giant’s stock worth $6,862,000 after acquiring an additional 2,923 shares in the last quarter. Finally, FineMark National Bank & Trust boosted its stake in shares of Mcdonald’s by 2.2% during the 4th quarter. FineMark National Bank & Trust now owns 37,776 shares of the fast-food giant’s stock worth $6,708,000 after acquiring an additional 813 shares in the last quarter. 67.69% of the stock is owned by institutional investors.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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