Synovus Financial Corp Has $30.68 Million Stock Position in McDonald's Corporation $MCD

Key Points

• Synovus Financial Corp reduced its holdings in McDonald's Corporation by 3.0%, owning 98,230 shares valued at approximately $30.68 million at the end of the last quarter.
• McDonald's reported earnings per share of $3.19 for the most recent quarter, surpassing analyst expectations of $3.15, with a revenue of $6.84 billion, up 5.4% year-over-year.
• The company announced a quarterly dividend of $1.77, translating to an annualized dividend yield of 2.3%, with a payout ratio of 60.67%.

Synovus Financial Corp cut its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,230 shares of the fast-food giant's stock after selling 3,087 shares during the period. Synovus Financial Corp's holdings in McDonald's were worth $30,683,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald's during the 4th quarter worth $25,000. Pinney & Scofield Inc. bought a new position in McDonald's in the fourth quarter valued at about $29,000. Abound Financial LLC acquired a new position in McDonald's during the first quarter worth about $30,000. Copia Wealth Management bought a new position in shares of McDonald's in the fourth quarter worth about $31,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of McDonald's in the first quarter worth about $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Stock Performance

Shares of NYSE MCD opened at $313.8010 on Friday. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a 50 day moving average price of $299.02 and a two-hundred day moving average price of $305.84. The stock has a market cap of $223.93 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 3.20 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. During the same period in the prior year, the company posted $2.97 EPS. The company's revenue was up 5.4% on a year-over-year basis. Analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald's's dividend payout ratio is 60.67%.

Insider Buying and Selling at McDonald's

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,341 shares of company stock valued at $2,229,327. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

MCD has been the topic of several research reports. Guggenheim reaffirmed a "neutral" rating on shares of McDonald's in a report on Friday, August 8th. Melius started coverage on shares of McDonald's in a research report on Monday, July 14th. They set a "sell" rating and a $250.00 price objective for the company. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective for the company in a research report on Thursday, July 10th. Citigroup upped their price objective on shares of McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, McDonald's presently has a consensus rating of "Hold" and an average price target of $326.38.

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.

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