CenterBook Partners LP Takes $1.34 Million Position in Arcos Dorados Holdings Inc. $ARCO

CenterBook Partners LP purchased a new stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 182,931 shares of the restaurant operator’s stock, valued at approximately $1,343,000.

A number of other large investors have also recently modified their holdings of ARCO. Lazard Asset Management LLC boosted its position in shares of Arcos Dorados by 35.3% during the 3rd quarter. Lazard Asset Management LLC now owns 20,128,477 shares of the restaurant operator’s stock valued at $135,867,000 after acquiring an additional 5,255,199 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of Arcos Dorados by 74.9% during the 3rd quarter. Pzena Investment Management LLC now owns 11,427,294 shares of the restaurant operator’s stock valued at $77,134,000 after acquiring an additional 4,893,812 shares during the last quarter. SPX Gestao de Recursos Ltda boosted its position in shares of Arcos Dorados by 39.9% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 6,342,621 shares of the restaurant operator’s stock valued at $42,813,000 after acquiring an additional 1,808,125 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Arcos Dorados by 104.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,486,822 shares of the restaurant operator’s stock valued at $10,036,000 after acquiring an additional 758,045 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Arcos Dorados by 1,097.5% during the 3rd quarter. Millennium Management LLC now owns 646,470 shares of the restaurant operator’s stock valued at $4,364,000 after acquiring an additional 592,484 shares during the last quarter. Institutional investors own 55.91% of the company’s stock.

Arcos Dorados Stock Performance

NYSE:ARCO opened at $8.39 on Thursday. The business has a 50 day moving average of $8.68 and a 200 day moving average of $8.15. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 7.55 and a beta of 0.46. Arcos Dorados Holdings Inc. has a 1-year low of $6.51 and a 1-year high of $9.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.73.

Arcos Dorados (NYSE:ARCO) last released its earnings results on Wednesday, May 20th. The restaurant operator reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Arcos Dorados had a return on equity of 10.47% and a net margin of 4.86%.Arcos Dorados’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. On average, sell-side analysts predict that Arcos Dorados Holdings Inc. will post 0.73 earnings per share for the current fiscal year.

Arcos Dorados Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Wednesday, December 23rd will be given a $0.07 dividend. The ex-dividend date is Wednesday, December 23rd. This represents a $0.28 annualized dividend and a yield of 3.3%. Arcos Dorados’s payout ratio is presently 16.22%.

Analysts Set New Price Targets

ARCO has been the subject of a number of research analyst reports. Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. The Goldman Sachs Group restated a “buy” rating on shares of Arcos Dorados in a research report on Wednesday, April 8th. Weiss Ratings upgraded Arcos Dorados from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Santander upgraded Arcos Dorados to an “outperform” rating in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.70.

About Arcos Dorados

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.