TD Cowen Reiterates Hold Rating for McDonald’s (NYSE:MCD)

TD Cowen reiterated their hold rating on shares of McDonald’s (NYSE:MCD) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $300.00 price target on the fast-food giant’s stock.

MCD has been the topic of a number of other reports. The Goldman Sachs Group boosted their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Evercore ISI increased their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Citigroup lifted their target price on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $295.24 on Tuesday. The firm has a fifty day moving average price of $298.36 and a two-hundred day moving average price of $275.78. McDonald’s has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company has a market cap of $211.79 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $3.19 earnings per share. Analysts expect that McDonald’s will post 11.78 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 58.65%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,097 shares of company stock valued at $10,256,818. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

Several hedge funds have recently bought and sold shares of the company. Hara Capital LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at $44,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the second quarter worth about $38,000. Keener Financial Planning LLC raised its position in shares of McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s during the 2nd quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at approximately $65,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

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.