McDonald’s (NYSE:MCD) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of McDonald’s (NYSE:MCD – Get Rating) in a research note published on Monday morning, The Fly reports. The brokerage issued an equal weight rating on the fast-food giant’s stock.

MCD has been the subject of a number of other reports. Truist Financial increased their price objective on McDonald’s from $276.00 to $300.00 and gave the stock a buy rating in a report on Friday, October 28th. Citigroup increased their price target on McDonald’s from $265.00 to $270.00 and gave the company a neutral rating in a research note on Thursday, December 1st. KeyCorp increased their price target on McDonald’s from $290.00 to $295.00 and gave the company an overweight rating in a research note on Friday, October 28th. Morgan Stanley increased their price target on McDonald’s from $285.00 to $305.00 and gave the company an overweight rating in a research note on Wednesday, January 18th. Finally, Cowen increased their price target on McDonald’s from $280.00 to $293.00 and gave the company an outperform rating in a research note on Friday, October 28th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $289.32.

McDonald’s Price Performance

Shares of MCD stock opened at $269.29 on Monday. McDonald’s has a 12-month low of $217.68 and a 12-month high of $281.67. The firm has a market capitalization of $197.23 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 3.13 and a beta of 0.63. The business has a 50 day simple moving average of $269.65 and a 200 day simple moving average of $260.84.

McDonald’s (NYSE:MCD – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The fast-food giant reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.11. McDonald’s had a negative return on equity of 123.40% and a net margin of 25.42%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the company posted $2.76 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities analysts anticipate that McDonald’s will post 9.93 EPS for the current fiscal year.

Hedge Funds Weigh In On McDonald’s

Hedge funds have recently modified their holdings of the stock. Piershale Financial Group Inc. acquired a new position in shares of McDonald’s in the fourth quarter worth $26,000. JDM Financial Group LLC acquired a new position in shares of McDonald’s in the fourth quarter worth $26,000. West Financial Advisors LLC increased its stake in shares of McDonald’s by 520.0% in the third quarter. West Financial Advisors LLC now owns 124 shares of the fast-food giant’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Global Wealth Strategies & Associates acquired a new position in shares of McDonald’s in the fourth quarter worth $35,000. Finally, Legend Financial Advisors Inc. acquired a new position in shares of McDonald’s in the third quarter worth $33,000. 66.86% of the stock is owned by institutional investors and hedge funds.

About McDonald’s

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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, Russia, Spain, and the U.K.