McDonald’s Co. (NYSE:MCD – Free Report) – Stock analysts at Wedbush raised their Q2 2023 EPS estimates for shares of McDonald’s in a note issued to investors on Wednesday, July 19th. Wedbush analyst N. Setyan now expects that the fast-food giant will post earnings of $2.78 per share for the quarter, up from their previous estimate of $2.70. The consensus estimate for McDonald’s’ current full-year earnings is $11.07 per share. Wedbush also issued estimates for McDonald’s’ Q3 2023 earnings at $2.94 EPS, Q4 2023 earnings at $2.80 EPS, FY2023 earnings at $11.15 EPS, Q3 2024 earnings at $3.28 EPS, Q4 2024 earnings at $3.13 EPS and FY2024 earnings at $12.18 EPS.
MCD has been the subject of a number of other research reports. Truist Financial lifted their price target on shares of McDonald’s from $327.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday. BMO Capital Markets boosted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Evercore ISI increased their price target on shares of McDonald’s from $310.00 to $315.00 in a research report on Wednesday, April 26th. Barclays lifted their price target on McDonald’s from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Finally, StockNews.com started coverage on McDonald’s in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.69.
McDonald’s Price Performance
McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Tuesday, April 25th. The fast-food giant reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.32. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.58 billion. McDonald’s had a negative return on equity of 124.87% and a net margin of 29.36%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.28 earnings per share.
Hedge Funds Weigh In On McDonald’s
A number of hedge funds and other institutional investors have recently modified their holdings of MCD. Osterweis Capital Management Inc. acquired a new position in shares of McDonald’s in the fourth quarter worth about $25,000. Aspire Private Capital LLC acquired a new position in McDonald’s in the 1st quarter worth approximately $26,562,950,000. JDM Financial Group LLC purchased a new position in McDonald’s during the 4th quarter worth approximately $26,000. Grey Fox Wealth Advisors LLC raised its stake in McDonald’s by 102.0% during the 1st quarter. Grey Fox Wealth Advisors LLC now owns 101 shares of the fast-food giant’s stock valued at $28,000 after purchasing an additional 51 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of McDonald’s in the first quarter valued at $32,000. Institutional investors and hedge funds own 67.08% of the company’s stock.
Insider Buying and Selling at McDonald’s
In other news, SVP Catherine A. Hoovel sold 840 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $298.77, for a total value of $250,966.80. Following the sale, the senior vice president now owns 891 shares of the company’s stock, valued at approximately $266,204.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $291.35, for a total value of $1,307,287.45. Following the transaction, the insider now owns 12,038 shares in the company, valued at $3,507,271.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Catherine A. Hoovel sold 840 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $298.77, for a total value of $250,966.80. Following the sale, the senior vice president now directly owns 891 shares of the company’s stock, valued at $266,204.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,154 shares of company stock valued at $5,032,594. 0.18% of the stock is owned by corporate insiders.
McDonald’s Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Monday, June 5th were given a $1.52 dividend. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $6.08 dividend on an annualized basis and a yield of 2.05%. McDonald’s’s dividend payout ratio (DPR) is 65.24%.
McDonald’s Company Profile
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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