McDonald's Co. Plans Quarterly Dividend of $1.67 (NYSE:MCD)

McDonald's Co. (NYSE:MCD - Get Free Report) declared a quarterly dividend on Wednesday, May 22nd, RTT News reports. Investors of record on Monday, June 3rd will be paid a dividend of 1.67 per share by the fast-food giant on Monday, June 17th. This represents a $6.68 annualized dividend and a yield of 2.51%.

McDonald's has raised its dividend payment by an average of 7.3% per year over the last three years and has increased its dividend every year for the last 48 years. McDonald's has a payout ratio of 50.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect McDonald's to earn $13.18 per share next year, which means the company should continue to be able to cover its $6.68 annual dividend with an expected future payout ratio of 50.7%.

McDonald's Stock Down 0.1 %

NYSE:MCD traded down $0.16 during mid-day trading on Wednesday, hitting $265.71. 1,905,202 shares of the stock traded hands, compared to its average volume of 3,276,065. McDonald's has a 12-month low of $245.73 and a 12-month high of $302.39. The company has a market cap of $191.49 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.99 and a beta of 0.71. The business's 50-day moving average price is $274.03 and its 200 day moving average price is $283.65.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts' consensus estimates of $2.71 by ($0.01). McDonald's had a negative return on equity of 180.74% and a net margin of 33.36%. The company had revenue of $6.17 billion during the quarter, compared to analysts' expectations of $6.16 billion. During the same period in the prior year, the firm earned $2.63 EPS. McDonald's's quarterly revenue was up 4.6% on a year-over-year basis. Analysts anticipate that McDonald's will post 12.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on MCD. Royal Bank of Canada cut their price target on shares of McDonald's from $340.00 to $335.00 and set an "outperform" rating for the company in a research note on Tuesday, February 6th. Erste Group Bank reissued a "hold" rating on shares of McDonald's in a research note on Wednesday, April 3rd. Truist Financial cut their price target on shares of McDonald's from $337.00 to $320.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on shares of McDonald's from $300.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, May 1st. Finally, Wedbush lowered their price objective on shares of McDonald's from $330.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, April 26th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $317.74.

Insiders Place Their Bets

In other McDonald's news, EVP Jonathan Banner sold 800 shares of the company's stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now directly owns 16,977 shares of the company's stock, valued at approximately $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Banner sold 800 shares of the company's stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,997 shares of company stock worth $836,300. 0.23% of the stock is currently owned by corporate insiders.

About McDonald's

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.

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