The rally McDonald’s Corporation MCD has seen since it announced its first-quarter earnings beat before the open on April 25 dwarfs any upward move in the history of the stock.
The stock closed at $134.23 on April 24. On Thursday, McDonald’s shares closed at an all-time high of $152.33.
McDonald’s also paid its quarterly dividend Thursday, which brought the shares down nearly $0.25.
The rally comes as restaurants serving specialized “gourmet” burgers are more prevalent than ever. The number of premium burger outlets has nearly quadrupled since 2005 to over 2,700, according to the Wall Street Journal.
The cost of these “better” burgers is steep: A $13 burger, as the Wall Street Journal article discusses, is unaffordable for the average person to eat regularly. But consumers are hard-pressed to cook a burger at home as cheap as the ones sold at McDonald’s.
More On The Rally
Since April 25, McDonald’s shares have closed at a new all-time high 19 times out of the 28 market sessions since.
This has amounted to a 14.18 percent rise — a dollar value increase of $18.92.
The stock is up 25.2 percent year to date, and the parent company of competitor Burger King, Restaurant Brands International Inc QSR is up 28.58 percent over the same period.
For context, in the period between June 2011 September 2015, McDonald’s shares moved from $80 to $103 — only $4 more than in the last month.
Related Links:
Environmental-Minded McDonald's Shareholder Sees Proposals Shot Down At Company's Annual Meeting
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
