Tower Wealth Partners Inc. Buys 232 Shares of McDonald’s Corporation $MCD

Tower Wealth Partners Inc. boosted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 12.6% during the second quarter, Holdings Channel reports. The firm owned 2,078 shares of the fast-food giant’s stock after purchasing an additional 232 shares during the quarter. Tower Wealth Partners Inc.’s holdings in McDonald’s were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HFM Investment Advisors LLC bought a new position in McDonald’s during the first quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new position in McDonald’s during the first quarter valued at approximately $26,000. GFG Capital LLC bought a new position in McDonald’s during the second quarter valued at approximately $29,000. Abound Financial LLC bought a new position in McDonald’s in the first quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC bought a new position in McDonald’s in the first quarter worth approximately $31,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $305.04 on Thursday. The stock has a market cap of $217.68 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.21 and a beta of 0.50. The firm has a fifty day moving average price of $306.29 and a 200-day moving average price of $305.63. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.97 EPS. On average, research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s payout ratio is currently 60.67%.

Analysts Set New Price Targets

Several research analysts have weighed in on MCD shares. Bank of America decreased 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. Truist Financial decreased their price target on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday. Melius started coverage on shares of McDonald’s in a research report on Monday, July 14th. They issued a “sell” rating and a $250.00 price target on the stock. Citigroup increased their price target on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Finally, Royal Bank Of Canada started coverage on shares of McDonald’s in a research report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s has an average rating of “Hold” and a consensus price target of $324.73.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider directly owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,402 shares of company stock valued at $1,973,407. 0.25% of the stock is currently owned by insiders.

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.