Tower Wealth Partners Inc. Has $511,000 Stock Position in McDonald’s Co. (NYSE:MCD)

Tower Wealth Partners Inc. cut its position in McDonald’s Co. (NYSE:MCD) by 13.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,678 shares of the fast-food giant’s stock after selling 263 shares during the quarter. Tower Wealth Partners Inc.’s holdings in McDonald’s were worth $511,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Capital Research Global Investors lifted its position in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares in the last quarter. Swedbank AB bought a new stake in McDonald’s during the 1st quarter worth about $348,206,000. Capital World Investors increased its position in McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD acquired a new position in shares of McDonald’s during the second quarter worth approximately $110,321,000. 70.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCD. Tigress Financial increased their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. KeyCorp lifted their price objective on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. BMO Capital Markets boosted their price target on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Barclays raised their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $295.24 on Friday. The stock has a market capitalization of $211.79 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. The company’s 50-day moving average price is $298.36 and its two-hundred day moving average price is $275.78. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. During the same period in the prior year, the firm posted $3.19 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts anticipate that McDonald’s Co. will post 11.78 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s payout ratio is presently 58.65%.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. 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 worth $10,256,818. Company insiders own 0.23% of the company’s stock.

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.