Tower Wealth Partners Inc. Acquires 304 Shares of McDonald’s Co. (NYSE:MCD)

Tower Wealth Partners Inc. increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 19.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,846 shares of the fast-food giant’s stock after acquiring an additional 304 shares during the period. Tower Wealth Partners Inc.’s holdings in McDonald’s were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Verum Partners LLC boosted its stake in McDonald’s by 2.4% during the first quarter. Verum Partners LLC now owns 1,680 shares of the fast-food giant’s stock worth $525,000 after acquiring an additional 40 shares in the last quarter. Littlejohn Financial Services Inc. boosted its stake in McDonald’s by 2.2% during the first quarter. Littlejohn Financial Services Inc. now owns 6,643 shares of the fast-food giant’s stock worth $2,075,000 after acquiring an additional 141 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its stake in McDonald’s by 7.3% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 1,484 shares of the fast-food giant’s stock worth $451,000 after acquiring an additional 101 shares in the last quarter. Procyon Advisors LLC lifted its stake in shares of McDonald’s by 3.5% in the first quarter. Procyon Advisors LLC now owns 8,381 shares of the fast-food giant’s stock worth $2,618,000 after buying an additional 282 shares in the last quarter. Finally, AGH Wealth Advisors LLC lifted its stake in shares of McDonald’s by 9.7% in the first quarter. AGH Wealth Advisors LLC now owns 870 shares of the fast-food giant’s stock worth $272,000 after buying an additional 77 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.5%

Shares of MCD stock opened at $307.44 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32. The stock has a market cap of $219.83 billion, a P/E ratio of 26.99, a P/E/G ratio of 3.10 and a beta of 0.56. The company has a 50 day simple moving average of $312.29 and a two-hundred day simple moving average of $302.57.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts’ consensus estimates of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. During the same period in the prior year, the company earned $2.70 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. As a group, equities analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.30%. McDonald’s’s dividend payout ratio is currently 62.49%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MCD shares. Robert W. Baird upped their target price on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. TD Securities reiterated a “hold” rating and issued a $305.00 target price on shares of McDonald’s in a research note on Thursday. Erste Group Bank downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Barclays upped their target price on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Thirteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $324.96.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the sale, the insider now directly owns 12,100 shares of the company’s stock, valued at approximately $3,853,850. This represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

About McDonald’s

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.