Top 10 Stocks Wall Street is Discussing

5. McDonald’s Corp (NYSE:MCD)

Number of Hedge Funds Investors: 60

Josh Brown, CEO of Ritholtz Wealth Management, during a recent program on CNBC talked about McDonald’s Corp (NYSE:MCD).

“I’m saying, like, the sum total of all the people managing money have decided to be buying and accumulating McDonald’s in a choppy tape. I believe that there’s signal there, and I think that investors are smart. So this is an RSI of 66, which means it’s up, there’s momentum, but it’s not overbought. It’s about 3% below its 52-week high. It could take that level out on one green day. This name is up 8% in the past month, where most stocks have struggled. And what’s really interesting is Bill Gates—The Gates Foundation, which is a $42 billion pool of capital—just initiated a brand-new position in McDonald’s while selling down Microsoft and selling down Berkshire Hathaway. He— I say he—The Gates Foundation bought 334,000 shares at an estimated average cost of $297.40. That’s right around here. It’s about $100 million worth of stock, not a big position in the context of a $42 billion pool of capital, which means that position could be more, not less.”

Carillon Eagle Growth & Income Fund stated the following regarding McDonald’s Corporation (NYSE:MCD) in its Q3 2024 investor letter:

“McDonald’s Corporation (NYSE:MCD) performed well as it met the expectations of investors looking for improvements in relative market share trends. The company’s introductions of menu items at premium- and medium-price tiers are picking up pace, allowing it to capture value more effectively.”