Welch & Forbes Sells 5,057 Shares of McDonald's
Welch & Forbes LLC has sold 5,057 shares of McDonald's Corporation (NYSE:MCD), reducing its position by 1.7% in the second quarter, according to the company's latest 13F filing with the SEC. The fund owned 298,932 shares after the sale, which is about 1.0% of Welch & Forbes LLC's holdings and ranks as the firm's 29th largest holding. The total value of McDonald's shares held by Welch & Forbes LLC was $80,804,000 at the end of the most recent reporting period.
Norges Bank acquired a new stake in McDonald's in the fourth quarter valued at about $2,890,438,000. Other institutional investors, such as Diamant Asset Management Inc., J. Stern & Co. LLP, and Viking Global Investors LP, also increased their positions in McDonald's during the same period.
The company reported $3.38 EPS for the quarter, beating analyst estimates of $3.32. The business had revenue of $7.10 billion for the quarter, compared to $7.13 billion estimated by analysts. McDonald's has a market cap of $187.83 billion and a price-to-earnings ratio of 21.56.