5 Best Safe Blue Chip Dividend Stocks

2. McDonald’s Corporation (NYSE: MCD)

Number of Hedge Fund Holders: 67
Number of Years of Consistent Dividend Growth: 45
Dividend Yield: 2.18%

McDonald’s Corporation (NYSE: MCD) is one of the biggest multinational restaurant franchises in the US. The company offers a range of food products and beverages at its franchises and ranks 2nd on our list of the best safe blue chip dividend stocks.

This June, Wells Fargo’s Jon Tower raised the firm’s price target on McDonald’s Corporation (NYSE: MCD) shares from $262 to $268, keeping an Overweight rating on the stock.

McDonald’s Corporation (NYSE: MCD) had an EPS of $1.92 in the first quarter of 2021, beating estimates by about $0.10. The company’s revenue was $51.2 billion, up about 8.7% year over year and beating estimates by $89.33 million. McDonald’s Corporation (NYSE: MCD) has also gained 12.97% in the past 6 months and 12.80% year to date.

By the end of the first quarter of 2021, 67 hedge funds out of the 866 tracked by Insider Monkey held stakes in McDonald’s Corporation (NYSE: MCD) worth roughly $3.78 billion. This is compared to 62 hedge funds in the previous quarter with stakes worth about $2.88 billion.