McDonald's has responded by renovating some stores and expanding its value menu and adding other food items to its menu.
Its longtime rivals such as Burger King and Wendy's Co. are reviving their brands with improved menus and new TV ad campaigns. Taco Bell, owned by Yum Brands Inc., is also seeing improved growth sparked by new offerings such as it Doritos Locos Tacos and higher-end Cantina Bell bowls and burritos.
Meanwhile, people are increasingly flocking to restaurants such as Chipotle Mexican Grill Inc. and Panera Bread Co., which offer better-quality food for a little more money. The broader fast-food landscape has been undergoing changes over the past several years too, with the rise of chains such as Subway and Starbucks.
Shares rose 93 cents, or 1.1 percent, to close at $89.41 — up 7 percent from their 52-week low of $83.31 in November. They traded as high as $102.22 in mid-January.