Traders Buy McDonald’s Corp. (MCD) on Weakness
Investors bought shares of McDonald’s Corp. (NYSE:MCD) on weakness during trading hours on Wednesday. $142.26 million flowed into the stock on the tick-up and $113.44 million flowed out of the stock on the tick-down, for a money net flow of $28.82 million into the stock. Of all equities tracked, McDonald’s Corp. had the 12th highest net in-flow for the day. McDonald’s Corp. traded down ($0.13) for the day and closed at $120.63
MCD has been the topic of a number of recent analyst reports. Vetr cut McDonald’s Corp. from a “strong-buy” rating to a “buy” rating and set a $134.24 target price on the stock. in a research note on Thursday, March 10th. Stephens reiterated an “overweight” rating and set a $130.00 target price on shares of McDonald’s Corp. in a research note on Tuesday, March 15th. Longbow Research initiated coverage on McDonald’s Corp. in a research note on Friday, March 18th. They set a “neutral” rating on the stock. Cowen and Company reiterated a “market perform” rating and set a $125.00 target price (up from $116.00) on shares of McDonald’s Corp. in a research note on Monday, March 28th. Finally, Credit Suisse Group AG lifted their target price on McDonald’s Corp. from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 29th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $127.50.
The firm has a 50 day moving average of $121.91 and a 200 day moving average of $122.17. The stock has a market cap of $105.90 billion and a P/E ratio of 23.18.
McDonald’s Corp. (NYSE:MCD) last released its quarterly earnings results on Friday, April 22nd. The fast-food giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Equities analysts predict that McDonald’s Corp. will post $5.55 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Monday, June 6th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Thursday, June 2nd.
In other news, CFO Kevin M. Ozan sold 13,007 shares of the stock in a transaction on Monday, April 25th. The stock was sold at an average price of $125.07, for a total value of $1,626,785.49. Following the sale, the chief financial officer now directly owns 14,400 shares in the company, valued at $1,801,008. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Mullens sold 845 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $128.93, for a total value of $108,945.85. The disclosure for this sale can be found here.
Several hedge funds recently made changes to their positions in MCD. World Asset Management Inc boosted its stake in shares of McDonald’s Corp. by 0.5% in the fourth quarter. World Asset Management Inc now owns 110,469 shares of the fast-food giant’s stock valued at $13,051,000 after buying an additional 527 shares during the last quarter. Flossbach Von Storch AG boosted its stake in shares of McDonald’s Corp. by 2.6% in the fourth quarter. Flossbach Von Storch AG now owns 176,603 shares of the fast-food giant’s stock valued at $20,864,000 after buying an additional 4,478 shares during the last quarter. Roffman Miller Associates Inc. PA boosted its stake in shares of McDonald’s Corp. by 2.4% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 117,712 shares of the fast-food giant’s stock valued at $13,906,000 after buying an additional 2,742 shares during the last quarter. Korea Investment CORP boosted its stake in shares of McDonald’s Corp. by 13.2% in the fourth quarter. Korea Investment CORP now owns 391,500 shares of the fast-food giant’s stock valued at $46,251,000 after buying an additional 45,800 shares during the last quarter. Finally, Simmons First Trust Co. NA bought a new stake in shares of McDonald’s Corp. during the fourth quarter valued at about $1,493,000.
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality 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.
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