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McDonald's Corporation (MCD) was down roughly 2% as I began composing this piece during the afternoon session. I hope investors weren't paying attention to the bears who were in control of the fast-food giant's shares. To me, the stock seems to be in good shape, and in the kind of trading climate we're in, it could be a useful instrument for the cautious player.
I'm seeing a quote of around $70 go by on my screen. Not bad in the least, considering that the 52-week high is $71.84. It shows the kind of resilience the stock possesses. Indeed, considering how many equities have pulled back from their 52-week highs, you've got to enjoy this element of the story.
As far as the second-quarter earnings report goes, management was able to beat the analysts. Net income was $1.13 per share, one penny ahead of the consensus projection. More importantly, per-share profit experienced a double-digit increase.
And maybe even more important than that is the current dividend yield on the shares, which is over 3%. That's an attractive payout for those who like to receive some compensation for owning a position.
For the most part, the one-year chart isn't bad. There's the volatility on the right side, of course, but I think there's a fair chance that McDonald's will continue to hold up. Competition is tough in this space; Burger King (BKC), Wendy's/Arby's Group (WEN), and Yum! Brands (YUM) are all after the same cash-strapped consumer. Nevertheless, I'm sure McDonald's will capture a fair amount of them through its marketing programs. Put the home of the Big Mac on a list of ideas to research.
Disclosure: I don't own any company mentioned; positions can change without notice.
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