5 Consumer Staples Stocks To Buy According To Billionaire Ray Dalio

In this article, we discuss 5 consumer staples stocks to buy according to billionaire Ray Dalio. If you want to see some more consumer staples picks of Ray Dalio, click 10 Consumer Staples Stocks To Buy According To Billionaire Ray Dalio. 

5. McDonald’s Corporation (NYSE:MCD)

Bridgewater Associates’ Stake Value: $449,661,000

Percentage of Bridgewater Associates’ 13F Portfolio: 2.61%

Number of Hedge Fund Holders: 57

McDonald’s Corporation (NYSE:MCD) is a multinational fast food company that operates globally. Hiking its position in McDonald’s Corporation (NYSE:MCD) by 16% in Q4 2021, Bridgewater Associates owns 1.67 million shares of the company, worth approximately $450 million. The stock accounts for 2.61% of the fund’s total Q4 portfolio.

On March 14, Oppenheimer analyst Brian Bittner lowered the price target on McDonald’s Corporation (NYSE:MCD) to $280 from $290 and kept an Outperform rating on the shares. The analyst observed that McDonald’s Corporation (NYSE:MCD) stock declined 9% since Russia invaded Ukraine on February 24, and investors should take advantage of the pullback. The headwinds for EPS in 2022 are due to losses from incurring short-term costs despite operations being cut in Russia, and the analyst’s 3% lower 2023 EPS estimate assumes that Russia and Ukraine’s EPS contribution falls to zero.

According to the fourth quarter database of Insider Monkey, 57 hedge funds were long McDonald’s Corporation (NYSE:MCD), with combined stakes of $2.24 billion. Renaissance Technologies is the biggest shareholder of the company, with 1.75 million shares worth $470.4 million.