Mcdonald’s Corp (NYSE:MCD) announced a quarterly dividend on Wednesday, January 30th, RTT News reports. Stockholders of record on Friday, March 1st will be paid a dividend of 1.16 per share by the fast-food giant on Friday, March 15th. This represents a $4.64 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, February 28th.
Mcdonald’s has increased its dividend by an average of 17.4% per year over the last three years and has raised its dividend annually for the last 42 consecutive years. Mcdonald’s has a payout ratio of 60.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mcdonald’s to earn $8.82 per share next year, which means the company should continue to be able to cover its $4.64 annual dividend with an expected future payout ratio of 52.6%.
Shares of NYSE MCD opened at $174.15 on Thursday. The company has a market cap of $134.34 billion, a P/E ratio of 22.04, a PEG ratio of 2.41 and a beta of 0.52. Mcdonald’s has a 52-week low of $146.84 and a 52-week high of $190.88.
In related news, EVP David Ogden Fairhurst sold 76,411 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $178.25, for a total value of $13,620,260.75. Following the transaction, the executive vice president now directly owns 12,110 shares in the company, valued at $2,158,607.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andrew J. Mckenna sold 30,000 shares of the stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $180.27, for a total transaction of $5,408,100.00. The disclosure for this sale can be found here. Insiders sold 128,447 shares of company stock worth $23,015,775 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on the stock. Barclays set a $198.00 price target on shares of Mcdonald’s and gave the company a “buy” rating in a research note on Monday, November 19th. Morgan Stanley raised shares of Mcdonald’s from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $173.00 to $210.00 in a research report on Thursday, November 29th. Piper Jaffray Companies boosted their price objective on shares of Mcdonald’s to $194.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 28th. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 price objective on shares of Mcdonald’s in a research report on Tuesday, December 4th. Finally, Cowen boosted their price objective on shares of Mcdonald’s from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, November 9th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $192.35.
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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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