McDonald’s (NYSE:MCD) Stock Rating Reaffirmed by TD Cowen

McDonald’s (NYSE:MCD)‘s stock had its “hold” rating reaffirmed by equities researchers at TD Cowen in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $300.00 price target on the fast-food giant’s stock. TD Cowen’s target price would indicate a potential downside of 0.53% from the stock’s previous close.

Other research analysts have also issued reports about the company. Wells Fargo & Company lifted their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the company from $290.00 to $285.00 in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $318.22.

McDonald’s Trading Up 1.0 %

MCD opened at $301.61 on Wednesday. The firm has a market cap of $217.36 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 4.05 and a beta of 0.73. The stock’s 50-day moving average price is $296.97 and its 200 day moving average price is $274.51. McDonald’s has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the business posted $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, research analysts forecast that McDonald’s will post 11.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $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 have sold 32,998 shares of company stock worth $9,935,493. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. Capital Research Global Investors raised its position in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. Swedbank AB purchased a new stake in McDonald’s in the 1st quarter valued at approximately $348,206,000. Capital World Investors increased its position in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD acquired a new position in shares of McDonald’s in the second quarter worth $110,321,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

About McDonald’s

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.