Arcos Dorados Holdings Inc. $ARCO Shares Sold by Hedges Asset Management LLC

Hedges Asset Management LLC lessened its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 26.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 246,100 shares of the restaurant operator’s stock after selling 88,800 shares during the period. Arcos Dorados accounts for approximately 1.6% of Hedges Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Hedges Asset Management LLC’s holdings in Arcos Dorados were worth $1,942,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ARCO. Jane Street Group LLC raised its position in shares of Arcos Dorados by 156.6% during the 4th quarter. Jane Street Group LLC now owns 195,751 shares of the restaurant operator’s stock worth $1,425,000 after purchasing an additional 119,477 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Arcos Dorados by 121.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 22,253 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 12,217 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Arcos Dorados in the 4th quarter valued at about $146,000. Squarepoint Ops LLC acquired a new stake in Arcos Dorados in the 4th quarter valued at about $223,000. Finally, Voloridge Investment Management LLC raised its holdings in Arcos Dorados by 3.6% in the 4th quarter. Voloridge Investment Management LLC now owns 900,088 shares of the restaurant operator’s stock valued at $6,553,000 after acquiring an additional 31,010 shares during the last quarter. Institutional investors and hedge funds own 55.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ARCO shares. JPMorgan Chase & Co. downgraded shares of Arcos Dorados from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $10.50 to $8.80 in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Arcos Dorados has an average rating of “Hold” and a consensus price target of $8.80.

Arcos Dorados Stock Down 3.5%

ARCO stock opened at $6.80 on Friday. The firm has a market cap of $1.43 billion, a PE ratio of 10.79, a PEG ratio of 1.37 and a beta of 0.63. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.73 and a current ratio of 0.80. The firm’s 50 day moving average price is $7.10 and its 200-day moving average price is $7.47. Arcos Dorados Holdings Inc. has a one year low of $6.51 and a one year high of $10.27.

Arcos Dorados (NYSE:ARCO) last released 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. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.22 billion. Arcos Dorados had a net margin of 2.89% and a return on equity of 24.54%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. On average, equities research analysts anticipate that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

Arcos Dorados 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.