Globeflex Capital L P purchased a new stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 815,609 shares of the restaurant operator’s stock, valued at approximately $6,574,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in shares of Arcos Dorados by 7.9% in the 1st quarter. Lazard Asset Management LLC now owns 23,174,841 shares of the restaurant operator’s stock valued at $191,192,000 after purchasing an additional 1,703,169 shares in the last quarter. Moerus Capital Management LLC lifted its position in shares of Arcos Dorados by 19.9% during the 1st quarter. Moerus Capital Management LLC now owns 4,263,589 shares of the restaurant operator’s stock valued at $35,175,000 after buying an additional 706,683 shares in the last quarter. Pzena Investment Management LLC grew its stake in Arcos Dorados by 1.7% in the 1st quarter. Pzena Investment Management LLC now owns 10,741,166 shares of the restaurant operator’s stock valued at $88,615,000 after acquiring an additional 178,602 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Arcos Dorados in the 4th quarter valued at $771,000. Finally, Dumac Inc. purchased a new stake in Arcos Dorados in the 4th quarter worth $447,000. Hedge funds and other institutional investors own 55.91% of the company’s stock.
Wall Street Analyst Weigh In
ARCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of Arcos Dorados from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $9.00 to $10.50 in a report on Friday, July 17th. Weiss Ratings downgraded shares of Arcos Dorados from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Wall Street Zen raised shares of Arcos Dorados from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Zacks Research cut Arcos Dorados from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.
Arcos Dorados Stock Performance
ARCO opened at $7.96 on Monday. Arcos Dorados Holdings Inc. has a twelve month low of $6.54 and a twelve month high of $9.75. The firm has a market capitalization of $1.68 billion, a PE ratio of 6.52 and a beta of 0.48. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average price is $8.22 and its 200 day moving average price is $8.41.
Arcos Dorados (NYSE:ARCO – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The restaurant operator reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. Arcos Dorados had a net margin of 5.15% and a return on equity of 12.50%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. As a group, sell-side analysts expect that Arcos Dorados Holdings Inc. will post 0.77 EPS for the current fiscal year.
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.
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