Mcdonald’s (MCD) Receives Buy Rating from Wells Fargo & Co
Mcdonald’s (NYSE:MCD)‘s stock had its “buy” rating reissued by equities researchers at Wells Fargo & Co in a report issued on Monday. They presently have a $185.00 price objective on the fast-food giant’s stock. Wells Fargo & Co’s target price suggests a potential upside of 13.28% from the stock’s current price.
MCD has been the topic of a number of other research reports. Royal Bank of Canada set a $175.00 price target on shares of Mcdonald’s and gave the company a “buy” rating in a research note on Friday, September 14th. Goldman Sachs Group reissued a “buy” rating and issued a $179.00 price target on shares of Mcdonald’s in a research note on Monday, July 30th. Jefferies Financial Group reissued a “buy” rating and issued a $190.00 price target on shares of Mcdonald’s in a research note on Friday, July 27th. Citigroup dropped their price target on shares of Mcdonald’s from $178.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 15th. Finally, Nomura raised shares of Mcdonald’s from a “neutral” rating to a “buy” rating and set a $191.00 price target on the stock in a research note on Thursday, June 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $182.03.
Mcdonald’s stock opened at $163.31 on Monday. Mcdonald’s has a 1 year low of $146.84 and a 1 year high of $178.70. The firm has a market capitalization of $128.24 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.46 and a beta of 0.66. The company has a debt-to-equity ratio of -5.24, a quick ratio of 1.45 and a current ratio of 1.47.
Hedge funds and other institutional investors have recently bought and sold shares of the company. AustralianSuper Pty Ltd purchased a new position in shares of Mcdonald’s during the 2nd quarter worth $179,723,000. Scopus Asset Management L.P. raised its holdings in Mcdonald’s by 20.0% in the 2nd quarter. Scopus Asset Management L.P. now owns 300,000 shares of the fast-food giant’s stock valued at $47,007,000 after buying an additional 50,000 shares during the period. Quad Cities Investment Group LLC purchased a new stake in Mcdonald’s in the 2nd quarter valued at about $110,000. Fundsmith Equity Fund L.P. purchased a new stake in Mcdonald’s in the 2nd quarter valued at about $1,191,239,000. Finally, Provident Investment Management Inc. raised its holdings in Mcdonald’s by 8.3% in the 2nd quarter. Provident Investment Management Inc. now owns 13,000 shares of the fast-food giant’s stock valued at $2,037,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 66.94% of the company’s stock.
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, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.
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