Private Management Group Inc. grew its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,352,659 shares of the restaurant operator's stock after acquiring an additional 184,155 shares during the period. Private Management Group Inc. owned 1.12% of Arcos Dorados worth $20,515,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of ARCO. Squarepoint Ops LLC grew its position in Arcos Dorados by 9.0% in the second quarter. Squarepoint Ops LLC now owns 24,690 shares of the restaurant operator's stock worth $222,000 after acquiring an additional 2,034 shares in the last quarter. Americana Partners LLC grew its stake in Arcos Dorados by 15.0% in the 2nd quarter. Americana Partners LLC now owns 17,204 shares of the restaurant operator's stock valued at $155,000 after buying an additional 2,240 shares during the last quarter. Bfsg LLC raised its holdings in Arcos Dorados by 13.8% in the 3rd quarter. Bfsg LLC now owns 18,650 shares of the restaurant operator's stock worth $163,000 after acquiring an additional 2,255 shares during the period. Blue Trust Inc. lifted its position in Arcos Dorados by 24.6% during the 2nd quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator's stock worth $111,000 after acquiring an additional 2,427 shares during the last quarter. Finally, Quarry LP boosted its holdings in Arcos Dorados by 431.0% during the second quarter. Quarry LP now owns 3,239 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 2,629 shares during the period. 55.91% of the stock is owned by institutional investors and hedge funds.
Separately, JPMorgan Chase & Co. cut their price objective on Arcos Dorados from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, September 13th.
Read Our Latest Stock Analysis on Arcos Dorados
Arcos Dorados stock traded down $0.33 during mid-day trading on Friday, reaching $8.48. The company had a trading volume of 968,829 shares, compared to its average volume of 1,211,661. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.52. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 2.71 and a beta of 1.17. The company has a 50 day moving average of $8.96 and a 200-day moving average of $9.54. Arcos Dorados Holdings Inc. has a 52 week low of $8.08 and a 52 week high of $13.20.
Arcos Dorados (NYSE:ARCO - Get Free Report) last released its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The firm's revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. On average, sell-side analysts expect that Arcos Dorados Holdings Inc. will post 0.69 EPS for the current fiscal year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Arcos Dorados, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Arcos Dorados wasn't on the list.
While Arcos Dorados currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.