McDonald's Stock Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company sold nearly a million dollars' worth of McDonald's stock during the second quarter. The company reduced its holdings in shares of McDonald's Corporation by 19.3% and owned 402,353 shares of the fast-food giant's stock after selling 96,184 shares.

This is not an isolated case. Other large investors also made significant changes to their positions in MCD during this time period. California State Teachers Retirement System boosted its position in McDonald's by a staggering 27,036.7% and now owns 302,891,546 shares of the fast-food giant's stock.

The recent sales and changes in holdings may be a sign that investors are adjusting their portfolios as inflation and interest rates rise. The company has been performing well, with revenue up 3.7% compared to the same quarter last year.