8 Best Beverage Dividend Stocks To Buy According to Hedge Funds

3. McDonald’s Corporation (NYSE:MCD)

Number of Hedge Fund Holders: 60

McDonald’s Corporation (NYSE:MCD) is an American multinational fast-food chain that also specializes in a wide range of beverages and other drinks. The stock has been down by over 2% since the start of 2024. The company is currently managing an E. coli outbreak at its restaurants, with at least 90 people falling ill, including one death, likely caused by contaminated onions in its burgers. Despite this issue, the company could still be a strong long-term investment, as improving economic conditions may lead to increased demand and stronger sales in the future.

In the third quarter of 2024, McDonald’s Corporation (NYSE:MCD) reported revenue of $6.87 billion, which showed a 3% growth from the same period last year. Systemwide sales to loyalty members in around 50 loyalty markets totaled more than $28 billion for the past twelve months and nearly $8 billion for the most recent quarter. This indicates that the company is not in immediate danger and still has room to improve its performance. Carillon Tower Advisers highlighted the company’s performance in its Q3 2024 investor letter. Here is what the firm has to say:

“McDonald’s Corporation (NYSE:MCD) performed well as it met the expectations of investors looking for improvements in relative market share trends. The company’s introductions of menu items at premium- and medium-price tiers are picking up pace, allowing it to capture value more effectively.”

McDonald’s Corporation (NYSE:MCD) currently offers a quarterly dividend of $1.77 per share, having raised it by 6% on September 26. This marked the company’s 48th consecutive year of dividend growth, which makes it one of the best beverage stocks with dividends. The stock has a dividend yield of 2.44%, as of November 24.

McDonald’s Corporation (NYSE:MCD) was a part of 60 hedge fund portfolios at the end of Q3 2024, down from 67 a quarter earlier, as per Insider Monkey’s database. The stakes owned by these hedge funds have a collective value of over $2.3 billion.