BlackRock Inc. trimmed its stake in shares of Arcos Dorados Holding Inc (NYSE:ARCO) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 686,065 shares of the restaurant operator’s stock after selling 60,087 shares during the quarter. BlackRock Inc. owned 0.33% of Arcos Dorados worth $4,768,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Bank Ltd. lifted its stake in Arcos Dorados by 13.2% in the 2nd quarter. First Trust Bank Ltd. now owns 498,487 shares of the restaurant operator’s stock valued at $3,464,000 after buying an additional 58,221 shares in the last quarter. Compass Group LLC lifted its stake in Arcos Dorados by 88.2% in the 2nd quarter. Compass Group LLC now owns 5,216,183 shares of the restaurant operator’s stock valued at $36,252,000 after buying an additional 2,444,573 shares in the last quarter. CIBC World Markets Inc. lifted its stake in Arcos Dorados by 4.4% in the 2nd quarter. CIBC World Markets Inc. now owns 318,067 shares of the restaurant operator’s stock valued at $2,211,000 after buying an additional 13,543 shares in the last quarter. Rational Advisors LLC purchased a new stake in Arcos Dorados in the 2nd quarter valued at approximately $124,000. Finally, Deltec Asset Management LLC purchased a new stake in Arcos Dorados in the 2nd quarter valued at approximately $712,000. 35.42% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on ARCO shares. Bank of America started coverage on Arcos Dorados in a research note on Monday, October 22nd. They issued a “buy” rating on the stock. Zacks Investment Research lowered Arcos Dorados from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. ValuEngine raised Arcos Dorados from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Finally, TheStreet lowered Arcos Dorados from a “b-” rating to a “c+” rating in a research note on Friday, August 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Arcos Dorados has a consensus rating of “Buy” and a consensus price target of $10.00.
Shares of Arcos Dorados stock opened at $7.17 on Friday. Arcos Dorados Holding Inc has a fifty-two week low of $6.05 and a fifty-two week high of $10.60. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.95 and a current ratio of 1.05.
Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings results on Wednesday, August 8th. The restaurant operator reported $0.01 earnings per share for the quarter. Arcos Dorados had a return on equity of 21.03% and a net margin of 2.82%. The company had revenue of $753.97 million for the quarter. Analysts expect that Arcos Dorados Holding Inc will post 0.28 earnings per share for the current fiscal year.
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About Arcos Dorados
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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