Pictet Asset Management Sells $130M Worth of McDonald's Stock

Pictet Asset Management Holding SA has made adjustments to its portfolio by selling 5,559 shares of McDonald's Corporation during the second quarter. This move resulted in a 1.1% reduction in their holdings.

The fund now owns 481,377 shares of MCD stock, valued at approximately $130,121,000. Pictet Asset Management Holding SA holds about 0.07% of McDonald's outstanding shares.

Other hedge funds have also made changes to their positions in the company during this quarter. Brighton Jones LLC increased its stake by 21.6%, while Revolve Wealth Partners LLC raised its holdings by 2.8%. Sivia Capital Partners LLC and United Bank boosted their positions by 11.4% and 6.0%, respectively.

McDonald's reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.32. The company's revenue was up 3.7% compared to the same period last year. Analysts expect McDonald's to post 12.88 earnings per share for the current fiscal year.

The fast-food giant has also announced a quarterly dividend of $1.86 per share, paid on September 16th to shareholders recorded on September 1st.