McDonald’s (NYSE:MCD) Given Buy Rating at TD Cowen

TD Cowen reissued their buy rating on shares of McDonald’s (NYSE:MCD) in a report released on Monday, Benzinga reports. The firm currently has a $305.00 price objective on the fast-food giant’s stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays dropped their target price on McDonald’s from $343.00 to $340.00 and set an overweight rating on the stock in a research report on Tuesday, February 6th. Argus reiterated a hold rating on shares of McDonald’s in a research report on Monday, March 25th. BTIG Research lowered shares of McDonald’s from a buy rating to a neutral rating in a research report on Tuesday, February 6th. Robert W. Baird decreased their target price on shares of McDonald’s from $305.00 to $300.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Finally, Bank of America raised their price target on shares of McDonald’s from $291.00 to $341.00 and gave the company a neutral rating in a report on Monday, January 29th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, McDonald’s presently has a consensus rating of Moderate Buy and a consensus price target of $317.74.

McDonald’s Price Performance

Shares of MCD opened at $257.99 on Monday. The firm has a market cap of $185.93 billion, a PE ratio of 21.90, a PEG ratio of 3.00 and a beta of 0.71. McDonald’s has a 1 year low of $245.73 and a 1 year high of $302.39. The stock’s fifty day moving average price is $273.21 and its two-hundred day moving average price is $283.34.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same period last year, the company earned $2.63 earnings per share. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s will post 12.17 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.59%. McDonald’s’s payout ratio is presently 56.71%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Insiders have sold a total of 2,997 shares of company stock worth $836,300 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of McDonald’s by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares in the last quarter. Northern Trust Corp increased its stake in McDonald’s by 1.7% in the 3rd quarter. Northern Trust Corp now owns 9,200,473 shares of the fast-food giant’s stock worth $2,423,773,000 after buying an additional 151,161 shares in the last quarter. Norges Bank bought a new stake in McDonald’s during the fourth quarter valued at about $2,684,899,000. Price T Rowe Associates Inc. MD lifted its position in shares of McDonald’s by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after acquiring an additional 987,099 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC boosted its stake in shares of McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after acquiring an additional 5,609,736 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.