Renaissance Technologies LLC Trims Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Renaissance Technologies LLC cut its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 67.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,128 shares of the restaurant operator’s stock after selling 672,820 shares during the quarter. Renaissance Technologies LLC owned approximately 0.16% of Arcos Dorados worth $1,670,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Colony Group LLC purchased a new stake in Arcos Dorados during the 4th quarter valued at about $59,000. Pinnacle Holdings LLC grew its position in Arcos Dorados by 47.0% during the 1st quarter. Pinnacle Holdings LLC now owns 12,403 shares of the restaurant operator’s stock valued at $63,000 after purchasing an additional 3,967 shares during the last quarter. Harbour Investments Inc. purchased a new stake in Arcos Dorados during the 1st quarter valued at about $71,000. ExodusPoint Capital Management LP purchased a new stake in Arcos Dorados during the 4th quarter valued at about $73,000. Finally, Jane Street Group LLC purchased a new stake in Arcos Dorados during the 4th quarter valued at about $81,000. 39.48% of the stock is currently owned by hedge funds and other institutional investors.

ARCO opened at $5.80 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 4.75. The company has a market cap of $1.22 billion, a PE ratio of -9.64, a P/E/G ratio of 1.55 and a beta of 1.41. The company’s 50-day moving average is $6.19. Arcos Dorados Holdings Inc. has a 52-week low of $3.86 and a 52-week high of $6.82.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings data on Tuesday, May 11th. The restaurant operator reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.13). Arcos Dorados had a negative return on equity of 73.32% and a negative net margin of 6.50%. The business had revenue of $559.84 million during the quarter, compared to the consensus estimate of $554.79 million. Research analysts forecast that Arcos Dorados Holdings Inc. will post 0.07 earnings per share for the current fiscal year.

The firm also recently disclosed a dividend, which will be paid on Friday, July 23rd. Stockholders of record on Wednesday, July 14th will be paid a $0.1086 dividend. This represents a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, July 13th. Arcos Dorados’s dividend payout ratio (DPR) is presently -8.33%.

ARCO has been the topic of several recent analyst reports. TheStreet raised shares of Arcos Dorados from a “d+” rating to a “c-” rating in a research report on Friday, May 7th. The Goldman Sachs Group assumed coverage on shares of Arcos Dorados in a research note on Wednesday, April 28th. They set a “neutral” rating and a $5.60 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Arcos Dorados in a research note on Friday, July 2nd. They set a “buy” rating and a $8.50 target price on the stock. Finally, Zacks Investment Research cut shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.78.

About Arcos Dorados

Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. The company 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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.

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Institutional Ownership by Quarter for Arcos Dorados (NYSE:ARCO)

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