THE HEDGEYE BREAKFAST MENU
Notable macro data points, news items, and price action pertaining to the restaurant space.
MACRO
Subsectors
Food processing stocks have been performing well over the last week, primarily due to strong price gains in PPC, which is the worst performing stock in the subsector on a one-year, year-to-date, six month, and three month duration.
QUICK SERVICE
- MCD is planning to open 25 new restaurants per year in South Africa while doubling revenue over the next four years, according to BusinessDay.
FULL SERVICE
- MSSR was rated “New Buy” at Capstone, the price target is $9.
- DRI was on the receiving end of some high praise from Michelle Obama. The First Lady called the company’s commitment to cut calories and sodium in its meals by 20% over a decade “a breakthrough moment in the restaurant industry”.
Howard Penney
Managing Director
Rory Green
Analyst