Mcdonald’s (NYSE:MCD) had its price objective increased by Wells Fargo & Co from $218.00 to $235.00 in a research note released on Monday, The Fly reports. They currently have an outperform rating on the fast-food giant’s stock.
Several other brokerages have also recently issued reports on MCD. Telsey Advisory Group initiated coverage on Grocery Outlet in a research note on Monday. They issued an outperform rating and a $40.00 price target for the company. Evercore ISI initiated coverage on Mondelez International in a research note on Tuesday, June 11th. They issued an outperform rating and a $62.00 price target for the company. Bank of America set a $80.00 price target on Canopy Growth and gave the company a buy rating in a research note on Friday, June 7th. Zacks Investment Research cut Heritage Insurance from a hold rating to a strong sell rating in a research note on Friday, April 26th. Finally, BTIG Research boosted their price target on Apple to $234.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $210.31.
Shares of MCD stock opened at $213.71 on Monday. The company has a market capitalization of $163.19 billion, a PE ratio of 27.47, a P/E/G ratio of 3.07 and a beta of 0.51. The company has a 50 day moving average of $206.23. Mcdonald’s has a 1 year low of $153.13 and a 1 year high of $214.90.
Mcdonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.01). The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.94 billion. Mcdonald’s had a net margin of 28.20% and a negative return on equity of 95.31%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.79 earnings per share. As a group, research analysts expect that Mcdonald’s will post 8.02 EPS for the current year.
In other news, insider Christopher J. Kempczinski sold 38,729 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $195.21, for a total transaction of $7,560,288.09. Following the completion of the transaction, the insider now directly owns 11,658 shares in the company, valued at $2,275,758.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin M. Ozan sold 40,930 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $195.90, for a total transaction of $8,018,187.00. Following the transaction, the chief financial officer now owns 42,647 shares of the company’s stock, valued at $8,354,547.30. The disclosure for this sale can be found here. Insiders have sold 104,449 shares of company stock valued at $20,458,931 over the last quarter. Company insiders own 0.25% of the company’s stock.
Large investors have recently made changes to their positions in the company. Gantzert Investment Co. LLC ADV acquired a new position in shares of Mcdonald’s during the fourth quarter worth $31,000. Aspire Private Capital LLC bought a new stake in shares of Mcdonald’s in the fourth quarter worth $32,000. Canton Hathaway LLC bought a new stake in shares of Mcdonald’s in the first quarter worth $35,000. Financial Gravity Wealth Inc. bought a new stake in shares of Mcdonald’s in the first quarter worth $46,000. Finally, Ashburton Jersey Ltd bought a new stake in shares of Mcdonald’s in the fourth quarter worth $45,000. Institutional investors own 67.69% of the company’s stock.
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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