Handelsbanken Fonder AB Trims Stock Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Handelsbanken Fonder AB reduced its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 30.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 300,928 shares of the restaurant operator’s stock after selling 131,402 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.14% of Arcos Dorados worth $2,425,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Navellier & Associates Inc. boosted its holdings in shares of Arcos Dorados by 8.3% during the 4th quarter. Navellier & Associates Inc. now owns 22,258 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 1,700 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Arcos Dorados by 17.5% during the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator’s stock valued at $89,000 after buying an additional 1,830 shares in the last quarter. O Keefe Stevens Advisory Inc. boosted its holdings in shares of Arcos Dorados by 0.4% during the 1st quarter. O Keefe Stevens Advisory Inc. now owns 506,247 shares of the restaurant operator’s stock valued at $4,080,000 after buying an additional 2,058 shares in the last quarter. Diligent Investors LLC boosted its holdings in shares of Arcos Dorados by 3.3% during the 4th quarter. Diligent Investors LLC now owns 72,478 shares of the restaurant operator’s stock valued at $528,000 after buying an additional 2,317 shares in the last quarter. Finally, Freedom Investment Management Inc. boosted its holdings in shares of Arcos Dorados by 10.6% during the 4th quarter. Freedom Investment Management Inc. now owns 35,689 shares of the restaurant operator’s stock valued at $260,000 after buying an additional 3,427 shares in the last quarter. 55.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Arcos Dorados from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Arcos Dorados Stock Performance

Shares of ARCO stock opened at $7.58 on Friday. Arcos Dorados Holdings Inc. has a 12 month low of $6.66 and a 12 month high of $10.55. The company’s fifty day moving average price is $7.50 and its 200-day moving average price is $7.71. The stock has a market cap of $1.60 billion, a PE ratio of 10.83 and a beta of 0.62. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40.

Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings data on Wednesday, May 14th. The restaurant operator reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts expect that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current fiscal year.

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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.