In this article, we talk about the 5 best blue chip stocks to buy right now. In order to read our detailed analysis of the current market situation, go directly to 11 Best Blue Chip Stocks To Buy Right Now.
5. McDonald’s Corporation (NYSE:MCD)
Number of Hedge Fund Holders: 58
McDonald’s Corporation (NYSE:MCD) is one of the most well-known brands around the world. One research study has found that McDonald’s iconic golden arches logo is recognized by more people around the world than the Christian cross. McDonald’s also ranks as a Dividend Aristocrat stock, with a 2.18% yield as of July 1 and an impressive 46-year history of increasing dividends under its belt.
On June 29, Atlantic Equities analyst Edward Lewis upgraded McDonald’s Corporation (NYSE:MCD) to ‘Overweight’ from ‘Neutral’ with a $278 price target. The company offers a defensive value play with its leadership in the global quick-service restaurant (QSR) space, according to the analyst, who appreciates the firm’s resilient business model and its vast experience managing through difficult economic periods.
58 hedge funds were bullish on McDonald’s Corporation (NYSE:MCD) at the end of the first quarter with aggregate positions worth $2.73 billion. This is up from 57 hedge funds in the preceding quarter. Jim Simons’ Renaissance Technologies was the biggest shareholder of McDonald’s Corporation (NYSE:MCD) in the first quarter, with a stake worth nearly $626 million.