5 Best Coffee Stocks to Buy Now

2. McDonald’s Corporation (NYSE:MCD)

Number of Hedge Fund Holders: 50     

McDonald’s Corporation (NYSE:MCD) operates and franchises McDonald’s restaurants around the world. These restaurants sell coffee as well. On November 28, the successor to McDonald’s in Russia was set to add nine more restaurants to its portfolio next month, as the former franchisee agreed to join the new brand.

On October 28, RBC Capital analyst Christopher Carril maintained an Outperform rating on McDonald’s Corporation (NYSE: MCD) stock and raised the price target to $295 from $275, noting that the company’s third-quarter earnings beat highlighted its ability to play both offense and defense amid macro uncertainty. 

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 in the previous quarter worth $2.7 billion.