3 Restaurant Stocks to Watch Amid “Tightening Spending”

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1. McDonald’s Corporation (NYSE:MCD)

Number of Hedge Fund Holders: 50       

McDonald’s Corporation (NYSE:MCD) owns and runs fast food restaurants. On August 11, the company announced that it would reopen restaurants in Ukraine that had been closed as a result of the Russian invasion of the country. The firm is still paying over 10,000 employees in the European country in anticipation of the reopening. The company expects to start the reopening process in capital Kyiv. This will be followed by reopening in other parts of Ukraine, especially the Western part where the firm has a strong presence. 

On August 16, BMO Capital analyst Andrew Strelzik maintained an Outperform rating on McDonald’s Corporation (NYSE:MCD) stock and raised the price target to $300 from $285, noting that the firm was realizing accelerated growth and share gains in Europe. 

At the end of the second quarter of 2022, 50 hedge funds in the database of Insider Monkey held stakes worth $2.3 billion in McDonald’s Corporation (NYSE:MCD), compared to 58 the preceding quarter worth $2.7 billion.

Among the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Bridgewater Associates is a leading shareholder in McDonald’s Corporation (NYSE:MCD), with 2 million shares worth more than $511 million. 

You can also take a peek at 13 Best Hemp Stocks to Buy Now and Billionaire Dan Loeb’s Top 10 Stock Picks.

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