Pallas Capital Advisors LLC Decreases Stock Position in McDonald’s Co. (NYSE:MCD)

Pallas Capital Advisors LLC lowered its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,342 shares of the fast-food giant’s stock after selling 109 shares during the period. Pallas Capital Advisors LLC’s holdings in McDonald’s were worth $4,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kennebec Savings Bank purchased a new stake in McDonald’s during the 3rd quarter worth about $1,394,000. Charles Schwab Investment Management Inc. boosted its stake in shares of McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after buying an additional 2,997 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in McDonald’s during the third quarter worth approximately $16,870,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,704 shares of company stock valued at $2,829,428 in the last quarter. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of several analyst reports. UBS Group boosted their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. KeyCorp increased their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. Wedbush reissued an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Truist Financial dropped their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $321.39.

McDonald’s Trading Up 0.3 %

McDonald’s stock traded up $0.89 during mid-day trading on Monday, reaching $283.20. The company’s stock had a trading volume of 3,392,220 shares, compared to its average volume of 3,095,974. The firm has a market cap of $202.95 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The business has a 50 day moving average price of $293.94 and a 200-day moving average price of $286.47.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share 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 175.42%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 earnings per share. On average, equities analysts expect that McDonald’s Co. will post 11.75 EPS for the current fiscal year.

About McDonald’s

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.