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

Tower Wealth Partners Inc. lifted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 12.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,078 shares of the fast-food giant’s stock after acquiring an additional 232 shares during the period. Tower Wealth Partners Inc.’s holdings in McDonald’s were worth $607,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in McDonald’s by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in McDonald’s by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after purchasing an additional 52 shares during the last quarter. Quotient Wealth Partners LLC lifted its stake in McDonald’s by 10.9% in the first quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock worth $817,000 after purchasing an additional 258 shares during the last quarter. SSA Swiss Advisors AG bought a new stake in McDonald’s in the first quarter worth $175,000. Finally, GAMMA Investing LLC lifted its stake in McDonald’s by 25.3% in the first quarter. GAMMA Investing LLC now owns 11,198 shares of the fast-food giant’s stock worth $3,498,000 after purchasing an additional 2,261 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Guggenheim decreased their price objective on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Barclays boosted their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Evercore ISI boosted their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $324.73.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,402 shares of company stock worth $1,973,407. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $305.04 on Thursday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company’s 50-day moving average is $306.29 and its 200 day moving average is $305.63. The stock has a market capitalization of $217.68 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.21 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.97 earnings per share. Research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently disclosed 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 dividend payout ratio is 60.67%.

McDonald’s 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.