McDonald’s Co. (NYSE:MCD) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lessened its position in McDonald’s Co. (NYSE:MCD) by 3.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 103,779 shares of the fast-food giant’s stock after selling 3,886 shares during the period. Synovus Financial Corp’s holdings in McDonald’s were worth $31,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. Optimist Retirement Group LLC grew its holdings in McDonald’s by 5.3% during the third quarter. Optimist Retirement Group LLC now owns 7,240 shares of the fast-food giant’s stock worth $2,205,000 after acquiring an additional 364 shares during the period. Destination Wealth Management increased its holdings in shares of McDonald’s by 1.6% in the 3rd quarter. Destination Wealth Management now owns 83,431 shares of the fast-food giant’s stock valued at $25,406,000 after purchasing an additional 1,277 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of McDonald’s by 96.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 78,751 shares of the fast-food giant’s stock valued at $23,980,000 after purchasing an additional 38,669 shares during the period. Arvest Bank Trust Division acquired a new stake in shares of McDonald’s in the third quarter valued at about $2,432,000. Finally, World Investment Advisors LLC boosted its holdings in McDonald’s by 12.7% during the third quarter. World Investment Advisors LLC now owns 6,675 shares of the fast-food giant’s stock worth $2,033,000 after buying an additional 752 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,099 shares of company stock valued at $10,273,786. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MCD. Evercore ISI lifted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, BMO Capital Markets upped their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Twelve research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $320.50.

McDonald’s Price Performance

NYSE MCD opened at $296.52 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market capitalization of $212.49 billion, a PE ratio of 26.03, a P/E/G ratio of 3.94 and a beta of 0.73. The company’s 50 day simple moving average is $299.03 and its 200 day simple moving average is $280.82.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the company posted $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.39%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is presently 62.16%.

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.