Mcdonald’s (NYSE:MCD) was upgraded by analysts at Longbow Research from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat reports. The brokerage currently has a $227.00 price target on the fast-food giant’s stock. Longbow Research’s price target would suggest a potential upside of 17.25% from the company’s current price.
MCD has been the topic of several other reports. SunTrust Banks lowered their target price on Mcdonald’s from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. KeyCorp lowered their target price on Mcdonald’s from $235.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. UBS Group lowered their target price on Mcdonald’s from $218.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Stephens set a $230.00 target price on Mcdonald’s and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, DZ Bank restated a “hold” rating and set a $220.00 target price (down from $222.00) on shares of Mcdonald’s in a report on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Mcdonald’s presently has a consensus rating of “Buy” and a consensus price target of $222.96.
NYSE:MCD traded up $0.53 during trading hours on Friday, hitting $193.61. 3,457,071 shares of the stock were exchanged, compared to its average volume of 3,371,192. Mcdonald’s has a 52-week low of $169.04 and a 52-week high of $221.93. The firm’s fifty day moving average price is $204.71 and its 200 day moving average price is $207.29. The company has a market cap of $144.73 billion, a P/E ratio of 24.51, a P/E/G ratio of 3.04 and a beta of 0.48.
Mcdonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 22nd. The fast-food giant reported $2.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.10). The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Mcdonald’s had a negative return on equity of 85.71% and a net margin of 28.09%. Mcdonald’s’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 earnings per share. As a group, sell-side analysts expect that Mcdonald’s will post 7.87 earnings per share for the current fiscal year.
In other news, CEO Christopher J. Kempczinski bought 2,580 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were bought at an average price of $193.81 per share, with a total value of $500,029.80. Following the completion of the transaction, the chief executive officer now directly owns 2,580 shares in the company, valued at $500,029.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine A. Hoovel sold 457 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.15, for a total value of $99,694.55. Following the completion of the sale, the vice president now directly owns 1,348 shares in the company, valued at approximately $294,066.20. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in MCD. Nuveen Asset Management LLC raised its position in Mcdonald’s by 2,674.7% in the second quarter. Nuveen Asset Management LLC now owns 5,707,504 shares of the fast-food giant’s stock valued at $1,185,221,000 after purchasing an additional 5,501,809 shares during the period. Thoroughbred Financial Services LLC raised its position in Mcdonald’s by 21,724.4% in the second quarter. Thoroughbred Financial Services LLC now owns 3,151,660 shares of the fast-food giant’s stock valued at $315,166,000 after purchasing an additional 3,137,219 shares during the period. Price T Rowe Associates Inc. MD raised its position in Mcdonald’s by 11.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,562,216 shares of the fast-food giant’s stock valued at $3,439,309,000 after purchasing an additional 1,640,747 shares during the period. Vanguard Group Inc. raised its position in Mcdonald’s by 1.3% in the second quarter. Vanguard Group Inc. now owns 66,926,245 shares of the fast-food giant’s stock valued at $13,897,903,000 after purchasing an additional 857,084 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in Mcdonald’s in the third quarter valued at approximately $164,557,000. 67.91% of the stock is currently owned by institutional investors.
Mcdonald’s Company Profile
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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