Jim Cramer Just Turned Bullish on These 5 Stocks

4. McDonald’s Corporation (NYSE:MCD)

Number of Hedge Fund Holders: 50       

McDonald’s Corporation (NYSE:MCD) owns and runs fast food restaurants. On September 1, the former hedge fund manager placed the company among a group of dividend-paying stocks that he was bullish on for the coming months. He said that it can resume the long march higher real soon and was the perfect “bounce-back candidate” despite recent overhangs like cost inflation and a strong dollar. 

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.