I do not like the results McDonald's has been posting of late, with most of the recent quarters showing declining sales and profits. It's true that even with those declines the company has a strong balance sheet, but at a stock price of 101, the price to earnings ratio or PE, is close to 24 - not cheap and I would *NOT* purchase new shares at this level.
I am of the camp to hold. If you want to sell a few shares here to book profits, be my guest. Nobody ever lost money taking profits in a stock with recent performance such as MCD (the stock has gone nowhere in three full years).
Short term rating = HOLD
Long term rating = HOLD