5 Defensive Restaurant Stocks To Buy Amid Recession Fears

1. McDonald’s Corporation (NYSE:MCD)

Number Of Hedge Fund Holders: 58

McDonald’s Corporation (NYSE:MCD) is an America-based multinational fast food chain, founded in 1940 as a restaurant by Richard and Maurice McDonald. The restaurant giant has operations in more than 118 countries around the globe, making it one of the best defensive restaurant stocks to buy now.

On June 7, UBS analyst Dennis Geiger maintained a Buy rating and $290 price target on McDonald’s Corporation (NYSE:MCD), stating that the company is well positioned as a “high quality, defensive compounder” that should prove resilient thanks to the relative benefits from pressured consumer spending and drivers that support solid sales momentum.

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.

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