McDonald’s (NYSE:MCD) Given New $345.00 Price Target at Wells Fargo & Company

McDonald’s (NYSE:MCD) had its target price raised by equities research analysts at Wells Fargo & Company from $340.00 to $345.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the fast-food giant’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 12.87% from the stock’s previous close.

Other analysts have also issued research reports about the stock. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Bank of America dropped their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Melius initiated coverage on McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 price target for the company. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research report on Thursday, July 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $323.48.

McDonald’s Price Performance

NYSE MCD traded down $0.02 during mid-day trading on Thursday, reaching $305.65. 580,923 shares of the stock were exchanged, compared to its average volume of 3,439,060. The stock has a market cap of $218.11 billion, a P/E ratio of 26.16, a P/E/G ratio of 3.23 and a beta of 0.50. The stock has a 50 day simple moving average of $304.94 and a 200-day simple moving average of $305.25. McDonald’s has a one year low of $276.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the firm posted $3.23 earnings per share. McDonald’s’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s will post 12.25 EPS for the current fiscal year.

Insider Transactions at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On McDonald’s

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s in the 1st quarter worth about $26,000. HFM Investment Advisors LLC bought a new position in McDonald’s in the first quarter worth about $26,000. Evergreen Private Wealth LLC lifted its holdings in McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after buying an additional 52 shares during the period. Decker Retirement Planning Inc. grew its holdings in shares of McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after acquiring an additional 50 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the 2nd quarter worth approximately $25,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.