Today’s Research Reports on Stocks to Watch: McDonald’s and Costco

NEW YORK, NY / ACCESSWIRE / June 8, 2018 / McDonald’s shares headed higher in Thursday trading after the company announced it would be cutting corporate jobs to cut back on administrative expenses. Shares of Costco soared to a new record high after revealing impressive comparable sales numbers for the month of May.

RDI Initiates Coverage on:

McDonald’s Corporation
https://www.rdinvesting.com/report/?ticker=MCD

Costco Wholesale Corporation
https://www.rdinvesting.com/report/?ticker=COST

McDonald’s Corporation shares closed up 4.37% on Thursday with a little over 8.3 million shares traded. The fast food giant announced that it will be cutting corporate jobs as part of a $500 million plan to lessen its administrative expenses by the end of 2019. According to the Wall Street Journal there was no number on how many people would be losing their jobs. McDonald’s sent a memo that said it would be “eliminating layers within our organization.” Analyst Mark Kalinowski, of Kalinowski Equity Research upgraded McDonald’s shares to a “buy” rating from “neutral.” Kalinowski cited “improved outlook for U.S. same-store sales” and the company’s plans to serve Quarter Pounders with fresh patties for his upgrade. He wrote, “We believe that the domestic fresh-beef initiative — which was in all 48 contiguous states by the week of Monday, May 7 — is helping lead to better U.S. same-store sales trends than the Street expects for McDonald’s.”

Access RDI’s McDonald’s Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=MCD

Costco Wholesale Corporation shares closed up 2.48% yesterday on about 2.7 million shares traded. The bulk retail giant hit a new record high of $202.88 during intra-day trading after the company reported yet another month of impressive comparable-store sales growth of 11.7% in the U.S. for the period ended June 3rd. In the year ago period, this number was only 4%. Comparable sales also rose 13.0% in Canada, and 9.4% in other international locations. Net sales saw an increase of 14.1% to $11.0 billion in May with e-commerce sales recording 34.4% growth. Analysts at Stifel reiterated a $210 price target with a “buy” rating and said, “We believe current trends remain solid and we also think the results indicate Costco can coexist with large hardline competitors like Walmart and have limited cannibalization from Amazon.”

Access RDI’s Costco Wholesale Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=COST

Our Actionable Research on McDonald’s Corporation (NYSE: MCD) and Costco Wholesale Corporation (NASDAQ: COST) can be downloaded free of charge at Research Driven Investing.

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