Mcdonald’s (MCD) Price Target Increased to $205.00 by Analysts at Cowen

Mcdonald’s (NYSE:MCD) had its price target boosted by Cowen from $190.00 to $205.00 in a research note released on Friday morning, The Fly reports. Cowen currently has an outperform rating on the fast-food giant’s stock.

Several other research firms have also issued reports on MCD. Royal Bank of Canada set a $175.00 price target on shares of Mcdonald’s and gave the stock a buy rating in a research report on Thursday, July 26th. Morningstar set a $190.00 target price on shares of Mcdonald’s and gave the company a neutral rating in a research report on Wednesday, October 24th. Morgan Stanley decreased their target price on shares of Mcdonald’s from $169.00 to $167.00 and set an equal weight rating on the stock in a research report on Friday, July 27th. Stephens lifted their target price on shares of Mcdonald’s to $170.00 and gave the company an equal weight rating in a research report on Wednesday, October 24th. Finally, ValuEngine upgraded shares of Mcdonald’s from a hold rating to a buy rating in a research report on Thursday, October 11th. Seven investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $189.44.

NYSE MCD traded up $0.46 during midday trading on Friday, hitting $185.94. The company had a trading volume of 3,236,912 shares, compared to its average volume of 4,998,579. The firm has a market capitalization of $142.04 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 2.71 and a beta of 0.53. Mcdonald’s has a fifty-two week low of $146.84 and a fifty-two week high of $186.58.

Mcdonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.11. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.28 billion. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the business posted $1.76 EPS. Sell-side analysts forecast that Mcdonald’s will post 7.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $1.16 per share. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. This represents a $4.64 annualized dividend and a yield of 2.50%. The ex-dividend date is Friday, November 30th. Mcdonald’s’s dividend payout ratio (DPR) is currently 60.66%.

In related news, EVP Francesca A. Debiase sold 15,136 shares of Mcdonald’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $176.17, for a total transaction of $2,666,509.12. Following the completion of the transaction, the executive vice president now directly owns 17,306 shares of the company’s stock, valued at approximately $3,048,798.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Easterbrook sold 201,123 shares of Mcdonald’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the transaction, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at $8,592,697.75. The disclosure for this sale can be found here. Insiders have sold a total of 221,041 shares of company stock valued at $38,839,407 over the last three months. 0.22% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. CSat Investment Advisory L.P. bought a new position in shares of Mcdonald’s in the second quarter worth about $104,000. CX Institutional bought a new position in shares of Mcdonald’s in the second quarter worth about $109,000. Quad Cities Investment Group LLC bought a new position in shares of Mcdonald’s in the second quarter worth about $110,000. NuWave Investment Management LLC raised its stake in shares of Mcdonald’s by 2,485.2% in the third quarter. NuWave Investment Management LLC now owns 698 shares of the fast-food giant’s stock worth $117,000 after acquiring an additional 671 shares during the last quarter. Finally, Horan Capital Management bought a new position in shares of Mcdonald’s in the second quarter worth about $121,000. 66.92% of the stock is owned by hedge funds and other institutional investors.

About Mcdonald’s

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, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.

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