NewEdge Cuts Stake in McDonald's Amid Market Uncertainty

NewEdge Advisors LLC reduced its stake in McDonald's Corporation (NYSE:MCD) by 39.5% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The firm sold 103,620 shares of McDonald's stock, leaving it with 158,937 shares at the end of the period.

NewEdge Advisors LLC's holdings in McDonald's were valued at $42.96 million as of the latest reporting period. Several other large investors also made significant moves in McDonald's stock during the second quarter. California State Teachers Retirement System boosted its position by 27,036.7%, purchasing an additional 301,775,375 shares and increasing its stake to 302,891,546 shares valued at $81.87 billion.

McDonald's has been facing some challenges recently, including slowing restaurant expansion pace and potential fines related to the use of disposable cups. However, analysts continue to view McDonald's as a relatively defensive consumer stock amid uncertainty around inflation and Federal Reserve policy.