McDonald’s (NYSE:MCD) Given New $350.00 Price Target at Wells Fargo & Company

McDonald’s (NYSE:MCD) had its price objective increased by Wells Fargo & Company from $285.00 to $350.00 in a research note published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the fast-food giant’s stock.

MCD has been the subject of a number of other research reports. Guggenheim upped their price objective on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Loop Capital restated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Truist Financial lifted their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird increased their target price on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $318.22.

McDonald’s Price Performance

Shares of MCD stock opened at $301.61 on Monday. McDonald’s has a one year low of $243.53 and a one year high of $317.90. The company has a market cap of $217.36 billion, a P/E ratio of 25.60, a P/E/G ratio of 4.05 and a beta of 0.73. The firm has a 50-day moving average of $296.97 and a 200-day moving average of $274.51.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.17 EPS. As a group, research analysts expect that McDonald’s will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. McDonald’s’s payout ratio is presently 60.10%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,998 shares of company stock worth $9,935,493. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the 1st quarter valued at $28,000. Kings Path Partners LLC purchased a new stake in McDonald’s during the second quarter valued at about $38,000. Keener Financial Planning LLC increased its holdings in shares of McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s in the second quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at about $65,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.