Arcos Dorados Holdings Inc. $ARCO Shares Sold by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. reduced its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 28.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 210,000 shares of the restaurant operator’s stock after selling 85,000 shares during the quarter. Arcos Dorados accounts for 0.1% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 24th largest position. Black Creek Investment Management Inc.’s holdings in Arcos Dorados were worth $1,541,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its holdings in shares of Arcos Dorados by 9,074.6% in the 4th quarter. Global Retirement Partners LLC now owns 5,780 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 5,717 shares during the last quarter. Quarry LP acquired a new position in shares of Arcos Dorados in the 3rd quarter worth approximately $45,000. Aquatic Capital Management LLC acquired a new position in shares of Arcos Dorados in the 3rd quarter worth approximately $53,000. Truist Financial Corp acquired a new position in shares of Arcos Dorados in the 4th quarter worth approximately $76,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Arcos Dorados in the 3rd quarter worth approximately $73,000. 55.91% of the stock is currently owned by institutional investors and hedge funds.

Arcos Dorados Price Performance

Shares of ARCO opened at $8.83 on Friday. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $9.75. The firm’s 50 day moving average price is $8.70 and its 200 day moving average price is $8.17. The company has a market cap of $1.86 billion, a P/E ratio of 7.95 and a beta of 0.46. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.25.

Arcos Dorados (NYSE:ARCO) last announced its earnings results on Wednesday, May 20th. The restaurant operator reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.06. Arcos Dorados had a net margin of 4.86% and a return on equity of 10.47%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts forecast that Arcos Dorados Holdings Inc. will post 0.73 earnings per share for the current fiscal year.

Arcos Dorados Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Wednesday, December 23rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 23rd. Arcos Dorados’s dividend payout ratio is presently 16.22%.

Analyst Upgrades and Downgrades

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