Arcos Dorados Holdings Inc. $ARCO Position Boosted by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 215,971 shares of the restaurant operator’s stock after purchasing an additional 8,112 shares during the period. Bleakley Financial Group LLC owned about 0.10% of Arcos Dorados worth $1,704,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ARCO. Itau Unibanco Holding S.A. bought a new position in shares of Arcos Dorados during the first quarter worth about $73,000. R Squared Ltd lifted its holdings in Arcos Dorados by 60.3% in the first quarter. R Squared Ltd now owns 11,800 shares of the restaurant operator’s stock worth $95,000 after acquiring an additional 4,440 shares during the last quarter. Mraz Amerine & Associates Inc. bought a new position in Arcos Dorados in the second quarter worth about $120,000. First Interstate Bank lifted its holdings in Arcos Dorados by 74.7% in the first quarter. First Interstate Bank now owns 19,020 shares of the restaurant operator’s stock worth $153,000 after acquiring an additional 8,135 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Arcos Dorados by 36.2% in the first quarter. HighTower Advisors LLC now owns 22,543 shares of the restaurant operator’s stock worth $182,000 after acquiring an additional 5,987 shares during the last quarter. Institutional investors own 55.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Arcos Dorados from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $10.50 to $8.80 in a report on Wednesday, July 2nd. Wall Street Zen cut shares of Arcos Dorados from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Arcos Dorados in a report on Friday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Arcos Dorados presently has a consensus rating of “Reduce” and a consensus target price of $8.80.

Arcos Dorados Price Performance

Shares of NYSE:ARCO opened at $7.21 on Friday. The firm’s 50 day moving average is $6.94 and its two-hundred day moving average is $7.26. Arcos Dorados Holdings Inc. has a 52 week low of $6.51 and a 52 week high of $9.33. The firm has a market capitalization of $1.52 billion, a P/E ratio of 11.44, a PEG ratio of 3.38 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.62.

Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. Arcos Dorados had a net margin of 2.89% and a return on equity of 24.54%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business earned $0.13 earnings per share. Arcos Dorados’s revenue was up 2.8% compared to the same quarter last year. Analysts anticipate that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

Arcos Dorados Company Profile

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.