McDonald's Corporation (NYSE:MCD) Announces Quarterly Dividend of $1.77

McDonald's Corporation (NYSE:MCD - Get Free Report) announced a quarterly dividend on Tuesday, July 22nd, RTT News reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 1.77 per share by the fast-food giant on Tuesday, September 16th. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Tuesday, September 2nd.

McDonald's has a dividend payout ratio of 53.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect McDonald's to earn $13.26 per share next year, which means the company should continue to be able to cover its $7.08 annual dividend with an expected future payout ratio of 53.4%.

McDonald's Stock Up 1.3%

NYSE MCD traded up $3.77 during trading on Friday, reaching $298.25. 3,400,107 shares of the stock traded hands, compared to its average volume of 3,682,701. The firm has a market cap of $213.26 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53. The stock's 50-day moving average price is $301.00 and its 200 day moving average price is $303.02. McDonald's has a fifty-two week low of $250.23 and a fifty-two week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.70 earnings per share. Analysts anticipate that McDonald's will post 12.25 EPS for the current fiscal year.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares of the company's stock, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,817 shares of company stock valued at $1,147,992 in the last three months. Company insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in McDonald's stock. Revolve Wealth Partners LLC grew its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,942 shares of the fast-food giant's stock after purchasing an additional 52 shares during the quarter. Revolve Wealth Partners LLC's holdings in McDonald's were worth $563,000 as of its most recent SEC filing. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Truist Financial upped their price target on shares of McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. BMO Capital Markets reiterated an "outperform" rating and issued a $345.00 price target (up previously from $340.00) on shares of McDonald's in a report on Monday, May 5th. Finally, Morgan Stanley upped their price target on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $322.00.

About McDonald's

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.