SVB Wealth Sells Large Portion of McDonald's Holdings Amid Market Volatility
SVB Wealth LLC reduced its holdings in McDonald's Corporation (NYSE:MCD) by 40.7% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission.
The firm owned 8,444 shares of the fast-food giant's stock after selling 5,794 shares during the quarter. This decrease in holdings resulted in McDonald's being worth $2,283,000 at the end of the most recent quarter.
SVB Wealth LLC is not the only institutional investor to have modified its holdings in McDonald's. NorthRock Partners LLC increased its holdings by 1.4% during the second quarter and now owns 23,121 shares of the fast-food giant's stock worth $6,250,000 after purchasing an additional 314 shares.
McDonald's stock opened at $253.59 on Thursday, with a market cap of $179.45 billion and a price-to-earnings ratio of 20.60.