TD Waterhouse Canada Inc. Cuts Stake in McDonald's by 1.7% Amid Earnings Beat
TD Waterhouse Canada Inc., a large institutional investor, has trimmed its stake in McDonald's Corporation by 1.7% in the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The company now owns approximately 441,443 shares of McDonald's stock after selling 7,810 shares during the period.
The value of TD Waterhouse Canada Inc.'s stake in McDonald's is about $119 million, which represents around 0.06% of the fast-food giant's outstanding shares. This significant holding makes TD Waterhouse Canada Inc. one of the largest shareholders of McDonald's.
McDonald's has reported a quarterly earnings beat, with earnings per share coming in at $3.38, exceeding analyst estimates of $3.32. However, revenue came in slightly below expectations at $7.10 billion.