Mcdonald’s (NYSE:MCD) had its price target hoisted by research analysts at Wells Fargo & Co from $203.00 to $218.00 in a report issued on Wednesday, April 24th, The Fly reports. The firm presently has an “outperform” rating on the fast-food giant’s stock. Wells Fargo & Co‘s price objective would indicate a potential upside of 9.43% from the stock’s current price.
Several other research firms also recently issued reports on MCD. Zacks Investment Research upgraded shares of Mcdonald’s from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Telsey Advisory Group reiterated an “outperform” rating and set a $210.00 price objective (up from $195.00) on shares of Mcdonald’s in a research note on Friday, April 5th. Robert W. Baird upped their target price on shares of Mcdonald’s from $196.00 to $205.00 in a research note on Monday, April 1st. Royal Bank of Canada restated a “buy” rating and issued a $205.00 target price on shares of Mcdonald’s in a research note on Wednesday, January 30th. Finally, Stephens upgraded shares of Mcdonald’s from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $180.00 to $200.00 in a research note on Tuesday, February 19th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $202.39.
MCD stock traded down $0.77 on Wednesday, hitting $199.22. 2,220,951 shares of the company were exchanged, compared to its average volume of 2,622,508. Mcdonald’s has a twelve month low of $153.13 and a twelve month high of $200.63. The firm has a market capitalization of $152.70 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54.
In other Mcdonald’s news, insider Christopher J. Kempczinski sold 38,729 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $195.21, for a total transaction of $7,560,288.09. Following the sale, the insider now directly owns 11,658 shares of the company’s stock, valued at $2,275,758.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin M. Ozan sold 40,930 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $195.90, for a total transaction of $8,018,187.00. Following the completion of the sale, the chief financial officer now directly owns 42,647 shares in the company, valued at approximately $8,354,547.30. The disclosure for this sale can be found here. Insiders have sold 100,300 shares of company stock worth $19,632,367 over the last three months. 0.25% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Mcdonald’s by 1.1% in the 1st quarter. BlackRock Inc. now owns 50,259,926 shares of the fast-food giant’s stock valued at $9,544,358,000 after buying an additional 534,269 shares in the last quarter. FMR LLC boosted its position in shares of Mcdonald’s by 0.3% during the 1st quarter. FMR LLC now owns 21,416,684 shares of the fast-food giant’s stock valued at $4,067,029,000 after purchasing an additional 59,931 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Mcdonald’s by 2.7% during the 1st quarter. Wellington Management Group LLP now owns 15,844,534 shares of the fast-food giant’s stock valued at $3,008,878,000 after purchasing an additional 410,708 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Mcdonald’s by 16,975.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,998,095 shares of the fast-food giant’s stock valued at $84,000 after purchasing an additional 14,910,259 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Mcdonald’s by 27.1% during the 1st quarter. Geode Capital Management LLC now owns 11,998,993 shares of the fast-food giant’s stock valued at $2,276,207,000 after purchasing an additional 2,557,020 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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