MCD - Should You Buy McDonald's Stock at Less Than $300?
2024-03-21 10:00:00 ET
Investors are looking at a potentially tasty deal with McDonald's (NYSE: MCD) right now. The fast-food leader's stock has underperformed the market through the rally over the past year, even trailing rivals like Chipotle (NYSE: CMG) in the process. Shares have risen just 4% in that time compared to a 32% spike in the S&P 500 .
The chain's stock is trading below the all-time highs it set in early 2024 of roughly $300 per share. But is it worth buying right now? Let's dive right in.
Sluggish growth is the main reason the stock has underperformed lately. Sure, Mickey D's comparable-store sales (comps) were up 9% in the full 2023 fiscal year, which was better than most investors had hoped for at the start of the year. But the most recent results haven't been great.
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Should You Buy McDonald's Stock at Less Than $300?