Wedbush Reiterates Outperform Rating for McDonald’s (NYSE:MCD)

Wedbush reissued their outperform rating on shares of McDonald’s (NYSE:MCDFree Report) in a research note released on Tuesday, Benzinga reports. The firm currently has a $330.00 price target on the fast-food giant’s stock. Wedbush also issued estimates for McDonald’s’ Q1 2024 earnings at $2.62 EPS, Q2 2024 earnings at $3.18 EPS, Q3 2024 earnings at $3.38 EPS, Q4 2024 earnings at $3.10 EPS, FY2024 earnings at $12.29 EPS, Q1 2025 earnings at $2.90 EPS, Q2 2025 earnings at $3.53 EPS, Q3 2025 earnings at $3.56 EPS, Q4 2025 earnings at $3.33 EPS and FY2025 earnings at $13.32 EPS.

MCD has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price objective on McDonald’s from $270.00 to $278.00 and gave the company an overweight rating in a research report on Tuesday, October 31st. TD Cowen raised their price objective on McDonald’s from $300.00 to $325.00 and gave the company an outperform rating in a research report on Thursday, December 7th. Barclays decreased their price target on McDonald’s from $345.00 to $315.00 and set an overweight rating for the company in a research note on Monday, October 23rd. Citigroup increased their price target on McDonald’s from $280.00 to $310.00 and gave the company a neutral rating in a research note on Thursday, November 30th. Finally, Oppenheimer reiterated a market perform rating on shares of McDonald’s in a research note on Friday, January 5th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s presently has an average rating of Moderate Buy and an average target price of $320.10.

Read Our Latest Stock Analysis on MCD

McDonald’s Stock Down 0.9 %

Shares of McDonald’s stock opened at $289.41 on Tuesday. The stock’s fifty day moving average is $292.33 and its two-hundred day moving average is $280.22. The company has a market capitalization of $209.92 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. McDonald’s has a 52 week low of $245.73 and a 52 week high of $302.39.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the company earned $2.59 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s will post 12.38 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a $1.67 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $6.68 annualized dividend and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio is currently 57.74%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 4,583 shares of McDonald’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $290.70, for a total transaction of $1,332,278.10. Following the completion of the transaction, the insider now directly owns 8,187 shares of the company’s stock, valued at $2,379,960.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 4,583 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $290.70, for a total transaction of $1,332,278.10. Following the completion of the transaction, the insider now owns 8,187 shares of the company’s stock, valued at $2,379,960.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $281.25, for a total value of $1,261,968.75. Following the transaction, the insider now directly owns 8,908 shares of the company’s stock, valued at approximately $2,505,375. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McDonald’s

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fortitude Advisory Group L.L.C. grew its position in shares of McDonald’s by 5.9% in the second quarter. Fortitude Advisory Group L.L.C. now owns 1,153 shares of the fast-food giant’s stock valued at $344,000 after purchasing an additional 64 shares during the period. Register Financial Advisors LLC boosted its holdings in McDonald’s by 46.4% in the second quarter. Register Financial Advisors LLC now owns 947 shares of the fast-food giant’s stock valued at $282,000 after acquiring an additional 300 shares during the last quarter. Beaumont Financial Advisors LLC boosted its holdings in McDonald’s by 0.6% in the third quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock valued at $21,191,000 after acquiring an additional 450 shares during the last quarter. W Advisors LLC acquired a new position in McDonald’s in the second quarter valued at $981,000. Finally, Solstein Capital LLC lifted its stake in shares of McDonald’s by 9.8% during the second quarter. Solstein Capital LLC now owns 1,698 shares of the fast-food giant’s stock worth $507,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.

About McDonald’s

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.

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Analyst Recommendations for McDonald's (NYSE:MCD)

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