Synovus Financial Corp Has $18.41 Million Position in Mcdonald’s Corp (MCD)

Synovus Financial Corp increased its position in shares of Mcdonald’s Corp (NYSE:MCD) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,937 shares of the fast-food giant’s stock after acquiring an additional 300 shares during the quarter. Synovus Financial Corp’s holdings in Mcdonald’s were worth $18,407,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Howard Capital Management raised its stake in shares of Mcdonald’s by 1.7% in the 3rd quarter. Howard Capital Management now owns 18,127 shares of the fast-food giant’s stock valued at $3,032,000 after acquiring an additional 300 shares during the period. Palisade Asset Management LLC raised its stake in shares of Mcdonald’s by 0.4% in the 3rd quarter. Palisade Asset Management LLC now owns 75,193 shares of the fast-food giant’s stock valued at $12,579,000 after acquiring an additional 300 shares during the period. Gilman Hill Asset Management LLC raised its stake in shares of Mcdonald’s by 13.4% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 2,531 shares of the fast-food giant’s stock valued at $423,000 after acquiring an additional 300 shares during the period. Parsec Financial Management Inc. raised its stake in shares of Mcdonald’s by 8.3% in the 3rd quarter. Parsec Financial Management Inc. now owns 3,933 shares of the fast-food giant’s stock valued at $658,000 after acquiring an additional 300 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of Mcdonald’s by 69.2% in the 3rd quarter. Sound Income Strategies LLC now owns 743 shares of the fast-food giant’s stock valued at $124,000 after acquiring an additional 304 shares during the period. Hedge funds and other institutional investors own 66.92% of the company’s stock.

MCD has been the topic of a number of research reports. Royal Bank of Canada set a $175.00 target price on shares of Mcdonald’s and gave the company a “buy” rating in a research note on Thursday, July 26th. Goldman Sachs Group reissued a “buy” rating and issued a $178.00 target price on shares of Mcdonald’s in a research note on Tuesday, July 24th. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 target price on shares of Mcdonald’s in a research note on Wednesday, July 11th. Cowen reissued a “buy” rating and issued a $190.00 target price on shares of Mcdonald’s in a research note on Friday, July 27th. Finally, Barclays reissued a “buy” rating and issued a $194.00 target price on shares of Mcdonald’s in a research note on Monday, August 20th. Seven analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Mcdonald’s presently has a consensus rating of “Buy” and an average target price of $188.93.

In other news, insider Ian Frederick Borden sold 4,782 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $177.68, for a total value of $849,665.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen Easterbrook sold 201,123 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the completion of the sale, the chief executive officer now directly owns 48,925 shares of the company’s stock, valued at approximately $8,592,697.75. The disclosure for this sale can be found here. Insiders sold a total of 221,041 shares of company stock valued at $38,839,407 in the last three months. Insiders own 0.22% of the company’s stock.

MCD opened at $180.39 on Tuesday. The stock has a market capitalization of $137.12 billion, a PE ratio of 27.09, a P/E/G ratio of 2.60 and a beta of 0.53. Mcdonald’s Corp has a 1-year low of $146.84 and a 1-year high of $181.10.

Mcdonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.99 by $0.11. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.28 billion. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.76 EPS. On average, equities research analysts forecast that Mcdonald’s Corp will post 7.75 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.64 annualized dividend and a dividend yield of 2.57%. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s payout ratio is presently 60.66%.

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About Mcdonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.

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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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