McDonald’s cut to Hold at Argus amid moderating food price inflation

Argus analyst John Staszak downgraded McDonald’s to Hold from Buy. The company’s sales have been hurt recently as more customers choose meals at home over dining out as food price inflation is moderating and the cost of dining out is rising, the analyst tells investors in a research note. Argus adds however that McDonals’ geographically diverse locations, share buybacks, and dividend hikes are reasons for long-term investors to own the shares.