NEW YORK (

TheStreet

) --

McDonald's Corporation

(NYSE:

MCD

) hit a new 52-week high Wednesday as it is currently trading at $89.58, above its previous 52-week high of $89.57 with 2.6 million shares traded as of 11:24 a.m. ET. Average volume has been 6.8 million shares over the past 30 days.

McDonald's has a market cap of $90.5 billion and is part of the

services

sector and

leisure

industry. Shares are up 16.6% year to date as of the close of trading on Tuesday.

McDonald's Corporation, together with its subsidiaries, operates as a worldwide foodservice retailer. It franchises and operates McDonald's restaurants that offer various food items, soft drinks, coffee, and other beverages. The company has a P/E ratio of 17.8, equal to the average leisure industry P/E ratio and equal to the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates McDonald's as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, good cash flow from operations and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full

McDonald's Ratings Report

.

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