Teachers Advisors LLC lessened its holdings in Arcos Dorados Holding Inc (NYSE:ARCO) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,927,753 shares of the restaurant operator’s stock after selling 1,533,124 shares during the quarter. Teachers Advisors LLC owned approximately 4.70% of Arcos Dorados worth $102,752,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ARCO. Investec Asset Management LTD raised its holdings in Arcos Dorados by 273.2% in the 3rd quarter. Investec Asset Management LTD now owns 1,853,483 shares of the restaurant operator’s stock valued at $18,628,000 after buying an additional 1,356,816 shares during the last quarter. Carmignac Gestion acquired a new stake in Arcos Dorados during the 3rd quarter valued at approximately $10,448,000. Eagle Global Advisors LLC acquired a new stake in Arcos Dorados during the 4th quarter valued at approximately $4,448,000. Russell Investments Group Ltd. increased its position in Arcos Dorados by 51.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 935,184 shares of the restaurant operator’s stock valued at $9,397,000 after purchasing an additional 318,409 shares during the period. Finally, First Trust Bank Ltd. acquired a new stake in Arcos Dorados during the 4th quarter valued at approximately $3,099,000. Institutional investors and hedge funds own 40.00% of the company’s stock.
ARCO has been the subject of a number of recent analyst reports. TheStreet raised shares of Arcos Dorados from a “c+” rating to a “b” rating in a research report on Tuesday, November 21st. Zacks Investment Research downgraded shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Arcos Dorados has an average rating of “Buy” and an average target price of $10.90.
ARCO stock remained flat at $$9.65 during trading hours on Wednesday. 1,230,093 shares of the company were exchanged, compared to its average volume of 463,309. The firm has a market cap of $2,047.40, a price-to-earnings ratio of 25.40 and a beta of 1.86. The company has a current ratio of 0.99, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45. Arcos Dorados Holding Inc has a 12-month low of $7.25 and a 12-month high of $10.80.
About Arcos Dorados
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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