|Bid||228.33 x 800|
|Ask||229.10 x 1100|
|Day's range||227.80 - 230.41|
|52-week range||124.23 - 231.91|
|Beta (5Y monthly)||0.67|
|PE ratio (TTM)||36.15|
|Earnings date||09 Nov 2020|
|Forward dividend & yield||5.16 (2.25%)|
|Ex-dividend date||30 Nov 2020|
|1y target est||233.47|
The landmark suit from 52 plaintiffs across 18 US states, accuses McDonald’s of depriving them of the same growth opportunities offered to white franchisees.
In a filing in the federal court in Chicago, McDonald's said its franchise agreements made clear the obligations and risks of owning restaurants, which was "fatal" to the claim it defrauded the 52 plaintiffs, who operated more than 200 stores and have been seeking as much as $1 billion in damages. McDonald's, which is based in Chicago, also said many of the plaintiffs' claims were too old, and that there was no proof it made or broke promises that would support their "expansive" claim of longstanding, companywide discrimination. "On its face, this claim is illogical as it suggests the company somehow has an interest in undermining its franchisees and seeing them fail," McDonald's said.
Fast-food restaurants are finally seeing sales increase as dine-in rates gradually improve. McDonald's (NYSE: MCD) and Shake Shack (NYSE: SHAK) both had massive declines in the second quarter, but their share prices are both up more than 15% year to date. McDonald's franchises and operates over 36,000 restaurants, with a presence in almost every country in the world, and almost half of these are in the U.S. CEO Chris Kempczinski said that this was a key point while dining rooms were closed, as customers ordered from restaurants they know and love.