In this article, we will take a look at the 5 best summer stocks to buy now. You can skip our analysis of these companies and go directly to the 10 Best Summer Stocks To Buy Now.
5. McDonald’s Corporation (NYSE: MCD)
Number of Hedge Fund Holders: 62
Fast-food behemoth McDonald’s Corporation (NYSE: MCD) ranks 5th in our list of 10 best summer stocks to buy now. The Chicago-based fast-food firm operates nearly 40,000 McDonald’s in over 119 markets globally. MCD stock has been on a full-fledged rally and gained 10.5% in the last 3 months, after remaining dormant for the first quarter of this year. McDonald’s Corporation is one of the restaurants that will prosper this summer as more people go out to eat now that the lockdown in several states and countries has been lifted.
The company has a market cap of $175 billion and total revenues of $5.12 billion in the first quarter of 2021, up 9% year over year. McDonald’s Corporation pays an annual dividend of $5.16 per share with a 2.2% dividend yield. On May 4, Telsey Advisory Group analysts maintain their Outperform rating on McDonald’s Corporation, with a $260 price target. The stock closed at $234.8 per share on May 7.
There were 62 hedge funds that reported owning stakes in McDonald’s Corporation (NYSE: MCD) at the end of the fourth quarter. The total value of these stakes at the end of Q4 is $2.89 billion.