The world's largest burger chain andcomponent has hit all-time highs 18 times in 2019, racing 17% higher. A positive July would mark its seventh straight month in the green.
A move to the mid-$800s would mark a roughly 16% rally from its current $732 level. The stock has never traded above $800. A few tailwind themes have coalesced around these fast-food stocks that should continue to fuel their outperformance, says Steve Chiavarone, portfolio manager at Federated Investors.
Chiavarone adds that a number of these companies are adapting to changing demographics and tastes and their evolution is paying dividends. McDonald's, for example, has introduced self-serve kiosks, all-day breakfast, and higher-quality ingredients in the past several years.
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