McDonald’s (NYSE:MCD) Receives Hold Rating from TD Cowen

McDonald’s (NYSE:MCD)‘s stock had its “hold” rating reaffirmed by TD Cowen in a research note issued to investors on Monday, Benzinga reports. They currently have a $280.00 price target on the fast-food giant’s stock. TD Cowen’s price target indicates a potential downside of 5.67% from the stock’s current price.

Several other equities research analysts have also commented on MCD. Wedbush restated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Tigress Financial increased their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a research note on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price objective on the stock. Bank of America reduced their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, Morgan Stanley reduced their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $306.11.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $296.83 on Monday. McDonald’s has a 52-week low of $243.53 and a 52-week high of $302.39. The company has a market capitalization of $213.92 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72. The company has a fifty day moving average of $277.30 and a 200-day moving average of $270.57.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $3.17 EPS. On average, equities analysts forecast that McDonald’s will post 11.67 EPS for the current fiscal year.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’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 transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold 5,193 shares of company stock worth $1,403,593 over the last ninety days. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s during the 1st quarter valued at approximately $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s during the fourth quarter valued at approximately $38,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the second quarter worth $38,000. Accent Capital Management LLC bought a new stake in McDonald’s in the fourth quarter valued at $44,000. Finally, Transcendent Capital Group LLC purchased a new position in McDonald’s during the 4th quarter valued at $45,000. 70.29% of the stock is owned by institutional investors.

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.