Pzena Investment Management LLC Acquires New Holdings in Arcos Dorados Holdings Inc. $ARCO

Pzena Investment Management LLC acquired a new stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 6,533,482 shares of the restaurant operator’s stock, valued at approximately $51,549,000.

A number of other large investors have also recently added to or reduced their stakes in ARCO. Deltec Asset Management LLC grew its stake in Arcos Dorados by 1.2% in the 1st quarter. Deltec Asset Management LLC now owns 168,538 shares of the restaurant operator’s stock valued at $1,358,000 after acquiring an additional 2,000 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Arcos Dorados during the 1st quarter worth about $736,000. American Capital Advisory LLC boosted its stake in shares of Arcos Dorados by 2.2% during the 1st quarter. American Capital Advisory LLC now owns 239,143 shares of the restaurant operator’s stock worth $1,927,000 after purchasing an additional 5,217 shares during the last quarter. Catalyst Capital Advisors LLC boosted its stake in shares of Arcos Dorados by 10.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 159,840 shares of the restaurant operator’s stock worth $1,288,000 after purchasing an additional 14,500 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV boosted its stake in shares of Arcos Dorados by 12.5% during the 1st quarter. Acorn Financial Advisory Services Inc. ADV now owns 229,838 shares of the restaurant operator’s stock worth $1,852,000 after purchasing an additional 25,499 shares during the last quarter. 55.91% of the stock is owned by institutional investors and hedge funds.

Arcos Dorados Trading Down 1.0%

Shares of ARCO stock opened at $6.82 on Monday. The firm has a market cap of $1.44 billion, a P/E ratio of 10.83, a PEG ratio of 1.33 and a beta of 0.60. Arcos Dorados Holdings Inc. has a 1-year low of $6.51 and a 1-year high of $10.03. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.80 and a quick ratio of 0.73. The firm’s 50-day simple moving average is $6.93 and its 200-day simple moving average is $7.30.

Arcos Dorados (NYSE:ARCO) last posted 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $0.13 earnings per share. Arcos Dorados’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

ARCO has been the topic of several analyst reports. Weiss Ratings cut shares of Arcos Dorados from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, JPMorgan Chase & Co. lowered shares of Arcos Dorados from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $10.50 to $8.80 in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $8.80.

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.