MCD - McDonald's Corporation
Chart Events
Price Crosses Moving Average
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 184.88 |
| Open | 185.60 |
| Bid | 188.00 x 800 |
| Ask | 188.06 x 800 |
| Day's Range | 185.16 - 188.92 |
| 52 Week Range | 124.23 - 221.93 |
| Volume | 2,036,033 |
| Avg. Volume | 3,962,357 |
| Market Cap | 139.387B |
| Beta (5Y Monthly) | 0.66 |
| PE Ratio (TTM) | 24.54 |
| EPS (TTM) | 7.64 |
| Earnings Date | Jul 28, 2020 |
| Forward Dividend & Yield | 5.00 (2.70%) |
| Ex-Dividend Date | May 29, 2020 |
| 1y Target Est | 207.28 |
Fair Value
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(Bloomberg Opinion) -- It’s almost always an advantage to have a seat at the table.In March, as Congress wrestled with the ravages of the Covid-19 pandemic and debated the contours of what would soon become the largest economic bailout in U.S. history, four legislators pushed hard to make sure that franchise operators received special treatment.They wrote a letter to the two senators steering the legislation toward the finish line, Mitch McConnell and Charles Schumer, asking them to increase the amount of taxpayer funding franchises could receive. While the Coronavirus Aid, Relief and Economic Security Act didn’t ultimately provide extra money for franchises, it arguably provided something far more valuable: It mandated that franchises — regardless of how many stores or restaurants they operated or how many people they employed in those outlets — would be eligible for federal small business aid.Given that Paycheck Protection Program funds were initially supposed to go only to companies with 500 or fewer employees, this was a significant concession. It meant that large national operators, some of which employed thousands of people, could snare PPP funding by applying store by store. You know what happened after that. Big operators such as Shake Shack Inc. and Ruth’s Hospitality Group Inc. received big loans; authentically small businesses were left out; and a healthy round of public criticism of the PPP program ensued. (Shake Shack and Ruth’s Hospitality decided to return their loans.)One of the four legislators who pushed for special bailout treatment for franchises in March was Representative Kevin Hern, a Republican from Oklahoma. Hern campaigned for his House seat in 2018 as a can-do businessman who has successfully operated a chain of McDonald’s franchises in his home state. I wrote a column in April asking whether Hern had positioned his own businesses for a rescue on the taxpayers’ dime.Hern and his office declined to comment when I asked in April whether his franchises would apply for federal aid — and whether doing so would be a financial conflict of interest. They also declined to comment on any discussions Hern may have had about the CARES Act with McDonald’s Corp., the fast-food giant that doles out franchises to entrepreneurs like Hern. On Monday, the Small Business Administration finally answered one of those questions. It released the names of some of the biggest recipients of PPP funds and, as it turns out, a Tulsa enterprise controlled by Hern, KTAK Corporation I, received $1 million to $2 million.KTAK operates fast-food franchises the Hern family owns. I contacted Hern’s office again on Monday and asked for information about any role he played in getting PPP funding for KTAK. I also asked whether his family’s McDonald's franchises received PPP funding directly and, if so, how much they received. I also asked Hern’s office to disclose any other businesses in which he has a financial or management interest that received PPP funding. Hern and his representatives didn’t respond to any of those questions.In a press release, Hern’s chief of staff, Cameron Foster, said that his boss “has been open and transparent with members of the community about his family business’ need of a Paycheck Protection Program Loan during the Covid-19 crisis.” Foster also said that Hern was “happy to share that the family business was able to keep all employees either at their current level of employment or move part-time employees to full time.”If all of Hern’s employees did, in fact, stay on his companies’ payrolls, that’s a good thing. But securing PPP funding also presumably meant that Hern and his family could keep their businesses operating — a direct financial benefit for the congressman himself. And Hern got that funding ahead of somebody else, possibly much smaller businesses that lacked his resources and connections.Concerns that insiders would benefit from the PPP program have shadowed the bailout from the moment it was enacted in March. Schumer personally promised that no bailout money would go to businesses controlled by President Donald Trump or his family members. Language was added to the CARES Act to try to ensure that didn’t happen. But Congress then exempted PPP — one of the most heavily funded bailout programs — from those provisions.So far, it doesn’t appear as if the Trumps have received public funds directly. But the Washington Post reported on Monday that dozens of businesses that operate in Trump-owned or Trump-controlled buildings obtained PPP funds. Bloomberg News reported that a business partner of the Trumps in Hawaii received a PPP loan. Corporate entities tied to the family of the president’s son-in-law, Jared Kushner, also pulled in some PPP funds.The law firm founded by one of Trump’s longstanding personal attorneys, Marc Kasowitz, received PPP funds of $5 million to $10 million. Companies linked to Education Secretary Betsy DeVos and Agriculture Secretary Sonny Perdue also received PPP loans, as did a company linked to House Speaker Nancy Pelosi’s husband, Bloomberg News reported. Two Democrats, Debbie Mucarsel-Powell and Susie Lee, as well as two Republicans, Vicky Hartzler and Roger Williams, are also linked to businesses that have snared PPP funds.The SBA and the Treasury Department have been the primary administrators of the PPP program, and they’ve been unusually lax about properly overseeing and administering the hundreds of billions of dollars of taxpayer money that they’ve handed over to small businesses thus far. Treasury Secretary Steven Mnuchin resisted disclosing the identities of PPP borrowers for months until public hearings forced his hand. The SBA even waived conflict-of-interest and ethics guidelines that have traditionally prevented legislators from gaining access to the agency’s loans.So when public officials like Hern are the beneficiaries of taxpayer-funded programs like PPP, it winds up not being illegal or unethical simply because the federal government says it isn’t.Hern once owned as many as 18 McDonald’s franchises in the Tulsa area that employed more than 1,000 people, though that has shrunk to just five franchises more recently. He continues to own his McDonald’s franchises while serving in Congress because federal ethics and conflicts-of-interest guidelines allow him to. 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Not just a miss, but down significantly from the 79 cents per share posted a year ago. * 7 Utilities Stocks to Buy With Reassuring Dividends How bad has the pandemic been? Sysco included this introduction in its earnings press release: "Over the last 50 years, Sysco has weathered its share of exogenous shocks and economic crises, and each time Sysco has remained a resolute foodservice industry leader. The extent of the COVID-19 crisis is more substantial than any other throughout the company's history."So it was good news for Sysco that states have begun reopening restaurants. Or is it? Restaurants are Re-ClosingThe reopening of restaurants across the U.S. has not gone well. Covid-19 cases are on the rise, there are battles over wearing masks, and many restaurants that had reopened in recent weeks are now closing again.Patio dining is a lifeline to some -- offering an opportunity for social distancing and fresh air -- but that only works during good weather. And what happens in the winter? A Coronavirus Vaccine Is KeyThere are many industries that are desperately waiting for the arrival of a coronavirus vaccine. Airlines, hotels and cruise lines are in big trouble until people can safely travel once again. The biotech industry is all hands on deck, racing to develop a vaccine.The restaurant industry is also hurting and in a position where business won't return to any semblance of normalcy until a vaccine is available. While fast food chains are faring better thanks to their focus on takeout, the industry has been devastated. As of the end of March, an estimated 30,000 U.S. restaurants had closed permanently. That number is projected to soon pass 110,000, according to the National Restaurant Association. The coronavirus pandemic has hammered restaurant stocks, even the fast food giants that are less impacted by the closure of dining rooms. McDonald's (NYSE:MCD) is still down 7.3% for 2020. Pizza Hut and Taco Bell owner Yum! Brands (NYSE:YUM) is down nearly 14%. Cheesecake Factory (NASDAQ:CAKE), which was built around casual in-restaurant dining, has seen its shares lose over 43% of their value so far this year.SYY stock has reflected the doom and gloom surrounding its key customer base, shedding 34% of its value since the start of the year. Bottom Line on SYY StockSysco is a gamble at this point. On the plus side, you have a company that dominates its industry. It has seen its shares steadily gain in value over the past decade, and it's a solid performer on the dividend front.Even during the worst of the coronavirus pandemic, it still had customers like hospitals and military bases that require restocking. Its fast-food customers have been more resilient than others. And Sysco has operations in other countries that are in more advanced stages of pandemic recovery.However, there is a real risk that the U.S. restaurant industry -- Sysco's core business -- is going to be hit even worse than it has been. 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McDonald's Corp (NYSE: MCD) and Apple Inc (NASDAQ: AAPL) store reopenings in the United States will come to a halt as coronavirus cases surge across states.What Happened McDonald's is putting a brake on reopening stores in the U.S. as multiple states such as Michigan, Colorado, and Florida suspend efforts to reopen their economies due to escalating COVID-19 infections.As of mid-June, nearly 1,000 out of 14,000 McDonald's locations are functional with seating restrictions.Reopened franchisees can decide to continue operations depending on instructions from local authorities.Apple will re-close stores in California, Alabama, Georgia, Idaho, Louisiana, Nevada, and Oklahoma in addition to the ones already closed in Florida, Mississippi, Texas and Utah, reported Reuters.Why It Matters McDonald's drive-thru lanes, takeaway, and its delivery service are currently operational, according to the company website.The reopened McDonald's locations are carrying out deep cleaning, and employees are following health and safety measures related to coronavirus prevention.Apple Stores that are open for business have limited occupancy and require face coverings and temperature checks.On Tuesday, COVID-19 cases rose by 47,000, the biggest single-day increase in numbers since the beginning of the pandemic. The worst-hit states include California, Florida, Georgia, and South Carolina.As on Thursday, at press time, the U.S. had 2,683,894 confirmed COVID-19 cases with 128,044 fatalities, according to the Johns Hopkins Coronavirus Resource Center.Price Action McDonald's shares traded 0.74% lower at $183.30 in the after-hours session on Wednesday. The shares had closed the regular session 0.15% higher at $184.66.On Wednesday, Apple shares closed 0.19% lower at $364.11.See more from Benzinga * Novartis Settles 8M Fraud Lawsuit Alleging It Bribed Doctors At Company Speaker Events * Zuckerberg Tells Facebook Employees He's Not Going To Change Policies In Response To Advertiser Boycott * SoftBank Looking To End Partnership With Wirecard After .1B Went Missing(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Stocks - U.S. Futures Higher; Jobs Data Ahead
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Reuters VideosMcDonald's halts U.S. reopening plans
U.S. customers that want to dine in at McDonald's will have to wait another 3 weeks. The prolonged shutdown is sure to bring further pain to the fast food chain. McDonald's saw its sales around the world dip by 30% in the first two months of the current quarter. A letter seen by Reuters Wednesday (July 1) showed the brand plans to keep its U.S. dining rooms shut for 21 days. That's as the health crisis has surged to new record highs daily across the country this week. Stay-at-home restrictions in many states have hit the restaurant industry particularly hard. They've limited fast food restaurants' operations and seen fewer meals sold. Now, with case numbers rising again as Americans emerge out of lockdown state governments are being forced to rethink their reopening plans. And there's no telling when restaurants will be able to return to normal capacity. Nearly 99% of McDonald's restaurants in the U.S. remain open for drive-through, delivery and take-out options.
