McDonald's Corporation

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  • Dec. 3, 2015, 2:27 PM
    | Dec. 3, 2015, 2:27 PM | 13 Comments
  • Dec. 3, 2015, 7:20 AM
    • The European Commission says it will review very closely if McDonald's (NYSE:MCD) was granted tax treatment in Luxembourg which violated EU state-aid rules.
    • The company faces allegations it avoided €1B ($1.06B) in taxes by using a business unit in Luxembourg to receive royalties for revenue earned elsewhere.
    • "McDonald's Europe Franchising has virtually not paid any corporate tax in Luxembourg nor in the US on its profit," reads the EU statement.
    • European Commission press release
    | Dec. 3, 2015, 7:20 AM
  • Dec. 2, 2015, 3:00 PM
    • McDonald's (MCD -0.8%) is expected to announce new debt issuance of as much as $6B. Sources say the company is considering selling the debt in five different parts.
    • The move by McDonald's, which would follow shortly after a record $4.3B in debt issued last May, could draw out some revisions from ratings agencies. Moody's and S&P Ratings have already expressed concerns on the financial policies of the restaurant operator.
    • Shares of MCD have hugged the $114 level tightly over the last two weeks.
    • Previously: McDonald's hikes dividend, ups refranchising goal, sets 2016 targets; shares rise (Nov. 10)
    • Previously: S&P cuts McDonald's credit rating (Nov. 10)
    | Dec. 2, 2015, 3:00 PM | 2 Comments
  • Dec. 2, 2015, 11:17 AM
    • McDonald's (MCD -0.4%) is the latest multinational to fall on the radar of regulators in the European Union, sources tell Reuters.
    • The company's use of an unit in Luxembourg to lower tax obligations is the focus of the upcoming probe.
    • A formal announcement of an investigation is expected to be made later this week.
    | Dec. 2, 2015, 11:17 AM | 1 Comment
  • Dec. 2, 2015, 3:55 AM
    • Top FIFA sponsors have published an open letter urging global soccer's governing body to enact credible reforms, days before a key meeting to finalize proposed changes to the organization.
    • The companies - AB InBev (NYSE:BUD), Adidas (OTCQX:ADDYY), Coca-Cola (NYSE:KO) McDonald's (NYSE:MCD) and Visa (NYSE:V) - which typically pay about $100M per four-year World Cup cycle, called for greater transparency, accountability, respect for human rights, integrity, leadership and gender equality following the global corruption scandal that surfaced in May.
    | Dec. 2, 2015, 3:55 AM | 3 Comments
  • Dec. 1, 2015, 9:27 AM
    • November monthly performance was: +0.59%
    • AUM of $607M
    • 52-week performance vs. the S&P 500 is: -1%
    • $0.06 in dividends were paid in November
    • Top 10 Holdings as of 10/30/2015: Exxon Mobil Corporation (XOM): 5.02%, Microsoft Corp (MSFT): 4.33%, Apple Inc (AAPL): 4.2%, Altria Group Inc (MO): 3.52%, PepsiCo Inc (PEP): 2.97%, McDonald's Corp (MCD): 2.88%, Intel Corp (INTC): 2.24%, Home Depot Inc (HD): 2.2%, International Business Machines Corp (IBM): 2.03%, AbbVie Inc (ABBV): 2.0%
    | Dec. 1, 2015, 9:27 AM
  • Nov. 30, 2015, 2:56 PM
    • Restaurant chains in New York City will be required to post salt warning symbols on menus and menu boards on foods items that top 2,300 milligrams. The initiative begins tomorrow.
    • The salt warning is expected to apply to almost 10% of all menu items at chain stores.
    • Companies expect to incur some mild expenses to make the changes, but don't think sales will be impacted.
    • Restaurant stocks: PNRA, MCD, QSR, DNKN, SHAK, WEN, DIN, EAT, HABT, BWLD.
    | Nov. 30, 2015, 2:56 PM | 31 Comments
  • Nov. 16, 2015, 1:48 PM
    • McDonald's (MCD +0.7%) will introduce a new value platform in January, reports Nation's Restaurant News.
    • The McPick 2 for $2 program will run for five weeks. The return to the $1 price point involves allowing customers to pick two items from a list of four (McDouble, the McChicken, small fries, and mozzarella sticks) easy- to-produce menu choices.
    | Nov. 16, 2015, 1:48 PM | 6 Comments
  • Nov. 13, 2015, 2:53 PM
    • Wendy’s (WEN -2.4%) is added to the Focus List at Citigroup, which believes same-store sales likely have been accelerated by "at least several hundred basis points” after the company introduced the 4-for-$4 promotion in October.
    • Citi analyst Gregory Badishkanian says industry buzz suggests the promotion is driving strong results for WEN, leading to a rise in transactions with little to no impact on restaurants' average check total.
    • The analyst predicts WEN will post Q4 same-store sales growth of at least 4%, above analyst consensus of 2.7% and the 3.3% growth implied by the high-end of company guidance.
    • Badishkanian predicts McDonald's (MCD -1.4%) same-store sales growth should accelerate further in Q4 but not at the expense of WEN.
    • Citi rates WEN a Buy with an $11 price target.
    | Nov. 13, 2015, 2:53 PM | 12 Comments
  • Nov. 12, 2015, 10:43 AM
    • McDonald's Japan reported a net loss of ¥29.28B ($238M) for the first nine months of the year.
    • The loss for the period was the largest since the stock started trading in Tokyo in 2001.
    • Total sales were off 20% to ¥137.55B ($1.12B).
    • During Q3, same-store sales declined 20% on a traffic drop of 15%.
    • McDonald's (NYSE:MCD) owns 50% of the Japanese holding company.
    • McDonald's Japan earnings release
    | Nov. 12, 2015, 10:43 AM | 12 Comments
  • Nov. 12, 2015, 9:37 AM
    • McDonald's (NYSE:MCD) will dive into consumer data trends to decide which menu items to place on its new digital menu boards next year, according to execs.
    • The listed items may even change day to day based on weather. Eventually, the menu boards could change based on current inventory and hot selling patterns.
    • U.S. President Mike Andres noted stores in Canada that tested the new menu boards saw a sales boost.
    | Nov. 12, 2015, 9:37 AM | 12 Comments
  • Nov. 11, 2015, 12:16 PM
    | Nov. 11, 2015, 12:16 PM | 3 Comments
  • Nov. 10, 2015, 3:30 PM
    • Citing a sharply higher debt load thanks to just-announced plans to boost capital returns to $30B from $20B by the end of 2016, S&P cuts McDonald's (MCD +0.1%) to BBB+ from A-. The outlook is stable.
    • The agency figures the company's debt to EBITDA ratio will rise to the low-to-mid 3x range versus the previously expected mid-2x - maybe good for the stockholders, but not necessarily for the creditors.
    • Any capital returns beyond what's been currently announced would likely result in another rating cut, says S&P. As for a credit rating increase, it's unlikely even if MCD's turnaround plan bears fruit, says the agency, as the company is likely to remain focused on capital returns.
    • Previously: McDonald's hikes dividend, ups refranchising goal, sets 2016 targets; shares rise (Nov. 10)
    | Nov. 10, 2015, 3:30 PM | 9 Comments
  • Nov. 10, 2015, 2:01 PM
    • In a PR issued in tandem with the company's annual investor meeting (runs from 1PM-5PM ET, webcast), McDonald's (MCD +1.4%) confirms it's not pursuing a REIT for its real estate assets. Exec Pete Bensen: "We have concluded that any potential value creation from a REIT is out-weighed by the significant financial and operational risks to our business and the continued progress of our turnaround."
    • Also announced: McDonald's is hiking its quarterly dividend by 5% to $0.89/share (3.1% yield at current levels). The next dividend is payable on Dec. 15 to shareholders on record as of Dec. 1. $30B worth of capital returns are now expected over the 3-year period ending 2016, up from a prior $20B.
    • The company now aims to refranchise 4K restaurants, up from a prior target of 3.5K. 93% of restaurants are expected to be franchised by the end of 2018, up from a current 81%. McDonald's is also hiking its G&A cost savings target by $200M/year to $500M/year; it aims to cut its G&A base by nearly 20% from the start of 2015.
    • For 2016, on a constant currency basis, McDonald's is aiming for 3%-5% system-wide sales growth, 5%-7% op. income growth, capex of $2B, and a 1-year ROIC in the high teens. ~1K new restaurants are expected to be opened. In actual dollars, consensus is for revenue to drop 3.3% in 2016 to $24.5B.
    • Earlier: McDonald's won't pursue REIT
    | Nov. 10, 2015, 2:01 PM | 19 Comments
  • Nov. 10, 2015, 1:16 PM
    • McDonald's (MCD) CEO Stephen Easterbrook says the fast-food giant won't be pursuing a REIT transaction.
    • Shares remain halted for now. The WSJ reported in October McDonald's was nearing a decision on whether to create a "McREIT" for its massive real estate assets.
    | Nov. 10, 2015, 1:16 PM | 17 Comments
  • Nov. 10, 2015, 1:07 PM
    • McDonald's (MCD - unchanged) has been halted.
    | Nov. 10, 2015, 1:07 PM | 13 Comments
Company Description
McDonald's Corp franchises and operates McDonald's restaurants in the food service industry. Its geographic segments include the United States, Europe, and Asia-Pacific, Middle East and Africa.
Sector: Services
Industry: Restaurants
Country: United States