Welcome to National Cheeseburger Day! If you have not already picked one up for lunch, you may want to reconsider. Several restaurants are rolling out some great deals in honor of the “holiday,” and McDonald’s (MCD) might be first among them. Sadly, investors weren’t as hungry for the stock, as MCD shares were down fractionally in Wednesday afternoon’s trading.
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McDonald’s is rolling out one major new deal for National Cheeseburger Day, focusing on one of its biggest sellers: the Double Cheeseburger. Today only, September 18, customers will be able to pick up double cheeseburgers for $0.50 each. But do not drive over with an empty U-Haul seeking to fill it up; there will only be one 50-cent burger available per customer, and buyers will have to use the app to order it.
This promotion comes at a good time for McDonald’s as a whole, hot on the heels of its $5 Meal Deal that will remain available until December. That $5 will get you a McDouble or McChicken sandwich, along with a four-piece McNugget, a small order of fries, and a soft drink. With Americans eating close to 50 billion burgers annually, there should be no shortage of takers for even a limited deal like one 50-cent cheeseburger.
It’s Not Just McDonald’s, Though
McDonald’s is not alone in offering up a deals. Burger King, owned by Restaurant Brands International (QSR), will also have a set of deals through the week. A purchase of $1 or more through its Royal Perks program will earn customers a free cheeseburger. A free four-piece Mozzarella Fries is available tomorrow, and Friday offers customers a free Croissan’wich, with the deals going into the weekend.
Wendy’s (WEN) is also in play, offering up a bacon cheeseburger for one whole penny. That deal runs Wednesday through Sunday, though it will only be available for users of the Wendy’s app who also registered their account. Several other establishments, from Dairy Queen to Applebee’s, will also have special deals for the day. So, if you want a cheeseburger, and you find yourself a bit low on cash, there seems to be an app, somewhere, for that.
Is McDonald’s Stock a Buy or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on MCD stock based on 18 Buys and eight Holds assigned in the past three months, as indicated by the graphic below. After a 8.15% rally in its share price over the past year, the average MCD price target of $299.52 per share implies 1.99% upside potential.
