Brandes Investment Partners LP lowered its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 83.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,186,602 shares of the restaurant operator’s stock after selling 6,075,514 shares during the quarter. Brandes Investment Partners LP owned 0.56% of Arcos Dorados Holdings worth $8,840,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in ARCO. Koch Industries Inc. bought a new stake in shares of Arcos Dorados Holdings in the 1st quarter worth about $130,000. FNY Partners Fund LP bought a new stake in shares of Arcos Dorados Holdings in the 1st quarter worth about $201,000. Paloma Partners Management Co purchased a new position in Arcos Dorados Holdings in the 1st quarter worth about $261,000. KCG Holdings Inc. increased its stake in Arcos Dorados Holdings by 27.7% in the 1st quarter. KCG Holdings Inc. now owns 32,895 shares of the restaurant operator’s stock worth $265,000 after buying an additional 7,134 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Arcos Dorados Holdings in the 2nd quarter worth about $265,000. Institutional investors and hedge funds own 36.65% of the company’s stock.
A number of research firms have commented on ARCO. BidaskClub upgraded shares of Arcos Dorados Holdings from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research cut shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Citigroup Inc. upgraded shares of Arcos Dorados Holdings from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $10.10 to $10.60 in a research note on Monday, August 28th. Finally, ValuEngine upgraded shares of Arcos Dorados Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $9.28.
Shares of Arcos Dorados Holdings Inc. (NYSE ARCO) opened at 9.70 on Friday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 37.31 and a beta of 2.16. The stock’s 50 day moving average is $9.00 and its 200-day moving average is $8.24. Arcos Dorados Holdings Inc. has a 12-month low of $4.88 and a 12-month high of $9.85.
Arcos Dorados Holdings (NYSE:ARCO) last announced its quarterly earnings data on Wednesday, August 9th. The restaurant operator reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.12). Arcos Dorados Holdings had a return on equity of 14.68% and a net margin of 1.76%. The firm had revenue of $798.70 million during the quarter. Equities analysts anticipate that Arcos Dorados Holdings Inc. will post $0.39 EPS for the current fiscal year.
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Arcos Dorados Holdings Profile
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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