McDonald’s Corporation (MCD) Earns Hold Rating from Canaccord Genuity

Canaccord Genuity restated their hold rating on shares of McDonald’s Corporation (NYSE:MCD) in a research note released on Friday morning. Canaccord Genuity currently has a $170.00 price objective on the fast-food giant’s stock.

A number of other equities analysts have also weighed in on MCD. Credit Suisse Group reaffirmed an outperform rating and issued a $165.00 target price (up from $157.00) on shares of McDonald’s Corporation in a research note on Thursday, June 8th. Mizuho initiated coverage on shares of McDonald’s Corporation in a research note on Thursday, June 8th. They issued a buy rating and a $168.00 target price for the company. Vetr raised shares of McDonald’s Corporation from a sell rating to a hold rating and set a $146.85 target price for the company in a research note on Monday, June 12th. Bank of America Corporation upped their target price on shares of McDonald’s Corporation from $165.00 to $175.00 and gave the stock a buy rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC restated a hold rating and set a $140.00 price objective on shares of McDonald’s Corporation in a research note on Friday, June 16th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $166.41.

Shares of McDonald’s Corporation (MCD) opened at 159.60 on Friday. McDonald’s Corporation has a one year low of $110.33 and a one year high of $161.72. The company has a 50 day moving average price of $158.15 and a 200 day moving average price of $149.51. The company has a market cap of $129.28 billion, a P/E ratio of 26.13 and a beta of 0.69.

McDonald’s Corporation (NYSE:MCD) last announced its earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.96 billion. McDonald’s Corporation had a net margin of 21.00% and a negative return on equity of 264.89%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 EPS. Equities research analysts expect that McDonald’s Corporation will post $6.56 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $1.01 dividend. This is a boost from McDonald’s Corporation’s previous quarterly dividend of $0.94. This represents a $4.04 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, November 30th. McDonald’s Corporation’s dividend payout ratio is currently 61.54%.

In other McDonald’s Corporation news, EVP David Ogden Fairhurst sold 4,782 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $157.05, for a total value of $751,013.10. Following the transaction, the executive vice president now directly owns 6,954 shares of the company’s stock, valued at approximately $1,092,125.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin M. Ozan sold 25,322 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total transaction of $4,013,537.00. Following the completion of the transaction, the chief financial officer now directly owns 24,039 shares in the company, valued at $3,810,181.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,938 shares of company stock worth $11,033,009. Insiders own 0.24% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. increased its holdings in shares of McDonald’s Corporation by 34.0% during the third quarter. Eqis Capital Management Inc. now owns 3,586 shares of the fast-food giant’s stock worth $562,000 after purchasing an additional 909 shares during the period. Curbstone Financial Management Corp increased its holdings in shares of McDonald’s Corporation by 89.7% during the third quarter. Curbstone Financial Management Corp now owns 7,342 shares of the fast-food giant’s stock worth $1,150,000 after purchasing an additional 3,471 shares during the period. MPS Loria Financial Planners LLC bought a new position in shares of McDonald’s Corporation during the second quarter worth approximately $400,000. Burgundy Asset Management Ltd. increased its holdings in shares of McDonald’s Corporation by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 1,407,837 shares of the fast-food giant’s stock worth $215,624,000 after purchasing an additional 20,067 shares during the period. Finally, W. E. Donoghue & Co. LLC bought a new position in shares of McDonald’s Corporation during the second quarter worth approximately $2,242,000. 67.92% of the stock is currently owned by institutional investors.

About McDonald’s Corporation

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

Analyst Recommendations for McDonald`s Corporation (NYSE:MCD)

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