BlueMountain Capital Management LLC reduced its holdings in shares of Arcos Dorados Holding Inc (NYSE:ARCO) by 31.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 157,895 shares of the restaurant operator’s stock after selling 72,260 shares during the period. BlueMountain Capital Management LLC owned about 0.07% of Arcos Dorados worth $1,097,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Stifel Financial Corp increased its holdings in Arcos Dorados by 13.3% during the 1st quarter. Stifel Financial Corp now owns 62,210 shares of the restaurant operator’s stock worth $572,000 after purchasing an additional 7,298 shares during the period. Eaton Vance Management increased its holdings in Arcos Dorados by 28.5% during the 1st quarter. Eaton Vance Management now owns 36,818 shares of the restaurant operator’s stock worth $337,000 after purchasing an additional 8,173 shares during the period. Blair William & Co. IL purchased a new position in Arcos Dorados during the 1st quarter worth $102,000. Royal Bank of Canada increased its holdings in Arcos Dorados by 10.2% during the 1st quarter. Royal Bank of Canada now owns 136,700 shares of the restaurant operator’s stock worth $1,250,000 after purchasing an additional 12,691 shares during the period. Finally, Usca Ria LLC purchased a new position in Arcos Dorados during the 1st quarter worth $119,000. 35.66% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. ValuEngine downgraded Arcos Dorados from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. TheStreet downgraded Arcos Dorados from a “b-” rating to a “c+” rating in a report on Friday, August 31st. Finally, Zacks Investment Research upgraded Arcos Dorados from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Friday, May 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Arcos Dorados currently has an average rating of “Hold” and an average target price of $10.00.
Shares of NYSE:ARCO opened at $6.15 on Friday. Arcos Dorados Holding Inc has a 12-month low of $6.12 and a 12-month high of $10.80. The firm has a market capitalization of $1.31 billion, a PE ratio of 10.08, a P/E/G ratio of 1.14 and a beta of 1.68. The company has a current ratio of 1.05, a quick ratio of 0.95 and a debt-to-equity ratio of 1.57.
Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings results on Wednesday, August 8th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter. Arcos Dorados had a return on equity of 21.03% and a net margin of 2.82%. The business had revenue of $753.97 million for the quarter. equities research analysts forecast that Arcos Dorados Holding Inc will post 0.28 EPS for the current year.
Arcos Dorados declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 22nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Arcos Dorados Profile
Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald's restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
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