Tower View Wealth Management LLC Cuts Stake in McDonald’s Corporation (NYSE:MCD)

Tower View Wealth Management LLC reduced its position in McDonald’s Corporation (NYSE:MCD) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,565 shares of the fast-food giant’s stock after selling 86 shares during the quarter. McDonald’s comprises approximately 2.1% of Tower View Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Tower View Wealth Management LLC’s holdings in McDonald’s were worth $3,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nilsine Partners LLC grew its holdings in McDonald’s by 4.4% in the first quarter. Nilsine Partners LLC now owns 20,244 shares of the fast-food giant’s stock worth $6,324,000 after purchasing an additional 858 shares during the last quarter. Canton Hathaway LLC grew its holdings in McDonald’s by 303.0% in the first quarter. Canton Hathaway LLC now owns 665 shares of the fast-food giant’s stock worth $208,000 after purchasing an additional 500 shares during the last quarter. Bernardo Wealth Planning LLC lifted its stake in shares of McDonald’s by 2.0% during the first quarter. Bernardo Wealth Planning LLC now owns 1,863 shares of the fast-food giant’s stock worth $582,000 after buying an additional 36 shares during the period. Hubbell Strickland Wealth Management LLC lifted its stake in shares of McDonald’s by 34.1% during the first quarter. Hubbell Strickland Wealth Management LLC now owns 8,138 shares of the fast-food giant’s stock worth $2,542,000 after buying an additional 2,070 shares during the period. Finally, Stonegate Investment Group LLC lifted its stake in shares of McDonald’s by 0.8% during the first quarter. Stonegate Investment Group LLC now owns 39,062 shares of the fast-food giant’s stock worth $12,202,000 after buying an additional 320 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MCD shares. Truist Financial set a $350.00 price objective on shares of McDonald’s in a research note on Friday, May 2nd. Piper Sandler lifted their price objective on shares of McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Argus downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Citigroup boosted their target price on shares of McDonald’s from $353.00 to $364.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, Redburn Atlantic restated a “sell” rating and set a $260.00 target price (down from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $321.79.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. The trade was a 7.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

McDonald’s Trading Down 1.0%

MCD stock opened at $286.75 on Friday. McDonald’s Corporation has a 12-month low of $243.53 and a 12-month high of $326.32. The stock has a market cap of $205.04 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.02 and a beta of 0.56. The business’s 50-day moving average is $310.55 and its 200 day moving average is $302.78.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same period in the previous year, the firm posted $2.70 EPS. McDonald’s’s revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Monday, June 2nd. McDonald’s’s dividend payout ratio is currently 62.49%.

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.