Tower View Wealth Management LLC Purchases 78 Shares of McDonald’s Co. (NYSE:MCD)

Tower View Wealth Management LLC grew its position in McDonald’s Co. (NYSE:MCD) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,463 shares of the fast-food giant’s stock after acquiring an additional 78 shares during the quarter. McDonald’s accounts for about 1.9% of Tower View Wealth Management LLC’s holdings, making the stock its 22nd largest position. Tower View Wealth Management LLC’s holdings in McDonald’s were worth $3,491,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Iams Wealth Management LLC increased its stake in McDonald’s by 1.0% in the first quarter. Iams Wealth Management LLC now owns 5,360 shares of the fast-food giant’s stock valued at $1,582,000 after acquiring an additional 51 shares during the period. Cullinan Associates Inc. grew its stake in shares of McDonald’s by 2.6% in the 1st quarter. Cullinan Associates Inc. now owns 89,522 shares of the fast-food giant’s stock valued at $25,241,000 after purchasing an additional 2,246 shares during the period. Synergy Asset Management LLC raised its holdings in shares of McDonald’s by 40.1% in the 1st quarter. Synergy Asset Management LLC now owns 14,606 shares of the fast-food giant’s stock worth $4,118,000 after buying an additional 4,177 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the 1st quarter valued at $28,000. Finally, Naviter Wealth LLC bought a new stake in McDonald’s in the first quarter valued at $1,364,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MCD shares. Truist Financial boosted their target price on shares of McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group raised their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $318.22.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’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 transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’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 sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is owned by insiders.

McDonald’s Stock Performance

Shares of MCD opened at $298.58 on Monday. The firm’s 50 day moving average price is $297.78 and its two-hundred day moving average price is $274.96. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The firm has a market cap of $215.18 billion, a P/E ratio of 24.84, a PEG ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the company posted $3.17 earnings per share. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 60.10%.

McDonald’s Profile

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.