What is Pat’s commentary for the week of April 23, 2024
Article Excerpt
To help fuel its growth in the U.S. and international markets, fast-food giant McDonald’s first sold shares to the public on April 21, 1965, at $22.50 a share (or just $0.03 a share after adjusting for splits).
Since then, investors have enjoyed huge gains, particularly as the stock hit a record high of $302.39 on January 22, 2024. The shares have moved down lately, but we still like McDonald’s long-term prospects.
The continuing success of the company’s 2020 growth strategy—Accelerating the Arches—also bolsters our confidence. That plan centres on improving the fast-food giant’s marketing and launching new products and initiatives to encourage more visits and higher customer spending.
We feel the new strategy will continue to spur McDonald’s post-pandemic earnings growth. It’s also why we named the stock your top Conservative buy for 2022 in our Wall Street Stock Forecaster newsletter. We then selected it again for 2023 and 2024.
I asked our Successful Investor research department to draw up this Inner Circle Spotlight…
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