Synovus Financial Corp Sells 2,462 Shares of McDonald's Co. (NYSE:MCD)

Synovus Financial Corp decreased its position in McDonald's Co. (NYSE:MCD - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,317 shares of the fast-food giant's stock after selling 2,462 shares during the quarter. Synovus Financial Corp's holdings in McDonald's were worth $29,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atala Financial Inc acquired a new position in shares of McDonald's in the 4th quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of McDonald's during the fourth quarter valued at approximately $27,000. Collier Financial bought a new stake in shares of McDonald's in the 4th quarter worth approximately $29,000. Fairway Wealth LLC grew its stake in McDonald's by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock worth $30,000 after buying an additional 55 shares during the last quarter. Finally, Marshall Investment Management LLC bought a new stake in McDonald's in the fourth quarter valued at $37,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCD. KeyCorp lifted their price objective on shares of McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Morgan Stanley cut their target price on McDonald's from $340.00 to $335.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Erste Group Bank upgraded shares of McDonald's from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. TD Securities reiterated a "hold" rating and issued a $300.00 target price on shares of McDonald's in a research report on Monday, February 10th. Finally, Piper Sandler decreased their price objective on shares of McDonald's from $297.00 to $290.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $322.87.

Insider Buying and Selling at McDonald's

In related news, EVP Manuel Jm Steijaert sold 10,459 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $308.71, for a total value of $3,228,797.89. Following the completion of the sale, the executive vice president now directly owns 4,606 shares in the company, valued at approximately $1,421,918.26. The trade was a 69.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the transaction, the executive vice president now owns 5,564 shares in the company, valued at approximately $1,720,778.28. This trade represents a 15.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,497 shares of company stock worth $8,461,400 over the last ninety days. 0.23% of the stock is currently owned by insiders.

McDonald's Trading Up 0.6 %

NYSE MCD traded up $1.72 during trading on Thursday, reaching $310.82. 2,726,918 shares of the company's stock were exchanged, compared to its average volume of 3,583,375. The firm has a market capitalization of $222.07 billion, a PE ratio of 27.29, a P/E/G ratio of 3.10 and a beta of 0.62. McDonald's Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The company's fifty day simple moving average is $307.31 and its 200-day simple moving average is $299.25.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.83. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. Equities analysts forecast that McDonald's Co. will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.28%. McDonald's's dividend payout ratio is currently 62.16%.

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.