McDonald’s ready for summer surge

Article Excerpt

MCDONALD’S CORP. $184 is a buy. The company (New York symbol MCD; Conservative Growth Portfolio, Consumer sector, Shares outstanding: 743.5 million; Market cap: $136.8 billion; Price-to-sales ratio: 6.6; Dividend yield: 2.7%; TSINetwork Rating: Above Average; www.mcdonalds.com) now operates over 38,000 restaurants in 120 countries. While COVID-19 forced McDonald’s to close most of its outlets to dine-in customers, about 95% of its stores continue to operate by offering drive-thru and home delivery service. As well, more than 1,000 U.S. locations have now reopened their dining rooms with reduced seating capacity. To further support its re-opening plans, the company’s 14,000 U.S. restaurants now aim to hire 260,000 full and part-time workers. McDonald’s has also temporarily removed some items from its menus, such as salads and desserts. That should help speed up service at its drive-thru lanes. McDonald’s is a buy. buy…

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