Morgan Stanley Raises Mcdonald’s (NYSE:MCD) Price Target to $220.00
Mcdonald’s (NYSE:MCD) had its price objective upped by Morgan Stanley from $210.00 to $220.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the fast-food giant’s stock.
MCD has been the subject of a number of other research reports. Piper Jaffray Companies set a $173.00 price objective on DexCom and gave the company a buy rating in a research note on Monday, July 15th. Bank of America set a $80.00 price objective on Canopy Growth and gave the company a buy rating in a research note on Friday, June 7th. Wells Fargo & Co reiterated a sell rating on shares of Bausch Health Companies in a research note on Monday, July 15th. UBS Group set a $210.00 price objective on Alibaba Group and gave the company a buy rating in a research note on Tuesday, June 11th. Finally, Robert W. Baird lifted their price objective on Mcdonald’s from $196.00 to $205.00 in a research note on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Mcdonald’s has an average rating of Buy and an average price target of $211.69.
NYSE MCD opened at $213.87 on Thursday. The company’s 50-day moving average is $206.93. The stock has a market cap of $163.30 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 3.08 and a beta of 0.51. Mcdonald’s has a fifty-two week low of $153.13 and a fifty-two week high of $216.26.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.17%. Mcdonald’s’s dividend payout ratio (DPR) is presently 58.73%.
In related news, EVP Jerome N. Krulewitch sold 20,641 shares of Mcdonald’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $196.40, for a total value of $4,053,892.40. Following the sale, the executive vice president now directly owns 20,641 shares in the company, valued at approximately $4,053,892.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ian Frederick Borden sold 4,149 shares of Mcdonald’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $199.22, for a total value of $826,563.78. The disclosure for this sale can be found here. Insiders have sold a total of 104,449 shares of company stock worth $20,458,931 over the last 90 days. Insiders own 0.25% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Mcdonald’s by 0.3% in the 1st quarter. FMR LLC now owns 21,416,684 shares of the fast-food giant’s stock worth $4,067,029,000 after buying an additional 59,931 shares during the last quarter. Northern Trust Corp boosted its holdings in Mcdonald’s by 2.8% in the 4th quarter. Northern Trust Corp now owns 11,680,799 shares of the fast-food giant’s stock worth $2,074,161,000 after buying an additional 317,676 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Mcdonald’s by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 9,441,973 shares of the fast-food giant’s stock worth $1,673,764,000 after buying an additional 683,872 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Mcdonald’s by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 8,347,633 shares of the fast-food giant’s stock worth $1,482,289,000 after buying an additional 383,089 shares during the last quarter. Finally, Norges Bank purchased a new position in Mcdonald’s in the 4th quarter worth approximately $1,326,793,000. Institutional investors own 67.69% of the company’s stock.
Mcdonald’s Company Profile
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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