McDonald’s Corporation (MCD) Sets New 1-Year High at $160.26
McDonald’s Corporation (NYSE:MCD) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $160.26 and last traded at $160.21, with a volume of 1,536,951 shares changing hands. The stock had previously closed at $159.90.
A number of brokerages recently issued reports on MCD. BidaskClub raised shares of McDonald’s Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 14th. Barclays PLC reissued an “overweight” rating and issued a $173.00 price objective (up previously from $164.00) on shares of McDonald’s Corporation in a report on Wednesday, July 26th. Vetr raised shares of McDonald’s Corporation from a “sell” rating to a “hold” rating and set a $159.47 price objective for the company in a report on Thursday, August 3rd. Bank of America Corporation reissued a “buy” rating and issued a $175.00 price objective on shares of McDonald’s Corporation in a report on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) set a $174.00 price objective on shares of McDonald’s Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Twelve investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $162.16.
The firm’s 50-day moving average price is $157.16 and its 200-day moving average price is $145.22. The stock has a market cap of $129.36 billion, a PE ratio of 26.14 and a beta of 0.70.
McDonald’s Corporation (NYSE:MCD) last posted its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.96 billion. McDonald’s Corporation had a negative return on equity of 264.89% and a net margin of 21.00%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 EPS. Equities research analysts anticipate that McDonald’s Corporation will post $6.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.35%. The ex-dividend date is Wednesday, August 30th. McDonald’s Corporation’s dividend payout ratio is presently 61.54%.
In other McDonald’s Corporation news, EVP Jerome N. Krulewitch sold 11,755 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $158.38, for a total value of $1,861,756.90. Following the sale, the executive vice president now directly owns 11,755 shares of the company’s stock, valued at $1,861,756.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin M. Ozan sold 25,322 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total value of $4,013,537.00. Following the completion of the sale, 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. Insiders sold 69,938 shares of company stock worth $11,033,009 over the last ninety days. 0.24% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Phocas Financial Corp. acquired a new stake in McDonald’s Corporation in the second quarter worth $107,000. Orrstown Financial Services Inc. increased its position in McDonald’s Corporation by 17.2% in the second quarter. Orrstown Financial Services Inc. now owns 709 shares of the fast-food giant’s stock worth $108,000 after buying an additional 104 shares during the period. Proficio Capital Partners LLC increased its position in McDonald’s Corporation by 87.8% in the first quarter. Proficio Capital Partners LLC now owns 740 shares of the fast-food giant’s stock worth $111,000 after buying an additional 346 shares during the period. Vigilant Capital Management LLC increased its position in McDonald’s Corporation by 9.4% in the first quarter. Vigilant Capital Management LLC now owns 977 shares of the fast-food giant’s stock worth $127,000 after buying an additional 84 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in McDonald’s Corporation in the first quarter worth $146,000. 67.96% of the stock is currently owned by hedge funds and other 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.
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