McDonald’s (MCD) Stock May Trade Near Fair Value Following Dividend Raise

McDonald's stock has fallen about 20% year to date, even as the fast food giant raises its dividend and refreshes leadership in its key U.S. business. That puts fresh focus on a simple question for investors: Is the current share price in line with what the restaurant chain's cash flows can support over time? The roughly 20% year to date decline resets expectations around McDonald's and puts more weight on whether the cash it generates can justify today's valuation. The higher quarterly...