Benjamin Edwards Inc. Cuts Stake in McDonald's as Investors Weigh Earnings
Benjamin Edwards Inc., a financial firm, has adjusted its stake in McDonald's Corporation. The company sold 46,060 shares of MCD during the second quarter, reducing its holding by 20.7%. After the sale, Benjamin Edwards Inc. owned 175,985 shares of McDonald's stock, valued at $47,596,000.
This adjustment is part of a larger trend in the market, where various institutional investors have been buying and selling MCD stocks. GTS Securities LLC increased its holdings by 153.9% during the second quarter, while Hennessy Advisors Inc. grew its stake by 8.5%. Other firms, such as Okabena Investment Services Inc., Spinnaker Trust, and Greenwood Capital Associates LLC, also made significant adjustments to their MCD holdings.
McDonald's has been a subject of interest among investors due to its recent financial performance. The company reported $3.38 earnings per share for the second quarter, beating analyst estimates. However, some analysts have expressed caution about the stock's potential growth, with Argus lowering its price target to $310.